B.C.’s Attorney General is promising a widespread crackdown in the wake of shocking allegations of money laundering in B.C. real estate linked to the fentanyl trade.
The allegations detailed in a report by the Globe and Mail laid out a scheme by which drug dealers would loan dirty money to Chinese immigrants, who put up Vancouver properties as collateral.
The dealers would then be repaid either in China, or through the sale of their Vancouver properties. The Globe investigation alleges the money repaid in China was often used to buy more fentanyl.