Home » Casino Money Launderers to Be Returned $2M Worth of Assets
Land Based Casino

Casino Money Launderers to Be Returned $2M Worth of Assets

In some cases, luck not only comes at the table or casino slot machines, but it can find you in other ways. Two people were apprehended in Canada’s British Columbia for money laundering in a casino in 2017 were recently set free due to a minor technicality. Even then, the government was planning to hang onto the seized assets.

A court has ruled that the authorities have a weak case and that the money should be returned to the lucky two.

Jian Jun Zhu and Caixuan Qin, the hands behind silver international investment, an entity that transmitted money, which turned into a money-laundering vehicle for high rollers. Once the scheme was uncovered, the two were arrested and charged with five counts of money laundering, failure to conduct customer checks and possession of property acquire via less than honest means.

However, the case was dropped in 2017 due to a small error that puzzled even the prosecutors.

During disclosure of evidence to their lawyer, an informant’s identity was exposed. This caused the prosecutors to ask for the case to be dropped because it would cause the informant to be harmed. The Civil forfeiture office in BC was not willing to let things slide quietly. They asked the judge to free the pair’s seized assets amounting to $1.5 million (U.S).

This year, the court decided that the prosecution failed to provide a good argument. The court has decided that the two should have their million and a half back.

Source: https://calvinayre.com/2019/09/19/casino/casino-money-launderers-to-be-returned-2-million-in-assets/

Tags

About the author

Catherine Wambui

Catherine Wambui

Catherine Nyaga is a freelance writer covering Real Estate and Technology. Her other interests include Nature, pets and accounting. She recently graduate from Nairobi University with a degree in Accounting.

Add Comment

Click here to post a comment

The following GDPR rules must be read and accepted:
This form collects your name, email and content so that we can keep track of the comments placed on the website. For more info check our privacy policy where you will get more info on where, how and why we store your data.

Trending Now