Money Laundering: "The Vancouver Model"

[Tourist9394]

Originally Posted by whatnext

How about because people are tired of being priced out of they cities they work in, just so some Chinese millionaire can stash his wife, kids and loot here? Those sales taxes and property taxes don’t fully cover the cost of services consumed when income tax is being avoided. There’s a big difference between a legitimate immigrant who brings his whole family with him to start a new life and those who continue their lives overseas.

https://www.youtube.com/watch?v=PwuckTkE7T4

Reminds me of this scene from the Wire. For those who aspire to be tax collectors, go apply for CRA. I buy Volvo Car, use Huawei instead of Iphone, Fisher & Paykel appliance at home. Goto Grouse on weekend. Very Canadian life-style. Wish Chinese can buy Bombardier, but Bentall is just as good.

[whatnext]

Originally Posted by Tourist9394

https://www.youtube.com/watch?v=PwuckTkE7T4

Reminds me of this scene from the Wire. For those who aspire to be tax collectors, go apply for CRA. I buy Volvo Car, use Huawei instead of Iphone, Fisher & Paykel appliance at home. Goto Grouse on weekend. Very Canadian life-style. Wish Chinese can buy Bombardier, but Bentall is just as good.

I don't aspire to be tax collector, but I'm happy to report those who scam Canada to them. If you don't like the rules, get out of the country. Huawei is a tool of the government of China, not surprising you would use it.

[Tourist9394]

Originally Posted by whatnext

I don't aspire to be tax collector, but I'm happy to report those who scam Canada to them. If you don't like the rules, get out of the country. Huawei is a tool of the government of China, not surprising you would use it.

What I am trying to do buying these products, look at how Sweden and a Chinese company is working together to contribute to their nations economy. Looking at Fisher and Paykel, how they contribute to New Zealand's manufacturing base. "If you can't beat them, join them." That is English saying, no? I love Canada, and is baffled at the animosity toward Chinese since the head tax and railway labour. It's time to change the narrative created by WASP.

Regarding scamming Canada: there is a grey area within Canadian tax collection law, the immigrants who come to Canada, their parents are foreign nationals:they are usually very well to do in foreign countries, so they gift unlimited amount of cash to their children in Canada, their children live off these heirloom. Not in Canada's jurisdiction because they are foreign nationals. Maybe you can tell the government to change this law, I guarantee you, perhaps only federal NDP will. I know who I am voting for in the all three elections, not the NDP for sure!

Here is another video of professor stuck in ivory tower, seriously does these people have anything left to say? I like to acknowledge that we are in coast salish territories, only First Nations have the right to tell me to leave this country. You are just as illegitimate as a new immigrant. you don't have the moral high ground.

https://www.youtube.com/watch?v=u-W_8tVVc9w

[retro_orange]

Originally Posted by Tourist9394

What I am trying to do buying these products, look at how Sweden and a Chinese company is working together to contribute to their nations economy. Looking at Fisher and Paykel, how they contribute to New Zealand's manufacturing base. "If you can't beat them, join them." That is English saying, no? I love Canada, and is baffled at the animosity toward Chinese since the head tax and railway labour. It's time to change the narrative created by WASP.

Regarding scamming Canada: there is a grey area within Canadian tax collection law, the immigrants who come to Canada, their parents are foreign nationals:they are usually very well to do in foreign countries, so they gift unlimited amount of cash to their children in Canada, their children live off these heirloom. Not in Canada's jurisdiction because they are foreign nationals. Maybe you can tell the government to change this law, I guarantee you, perhaps only federal NDP will. I know who I am voting for in the all three elections, not the NDP for sure!

Here is another video of professor stuck in ivory tower, seriously does these people have anything left to say? I like to acknowledge that we are in coast salish territories, only First Nations have the right to tell me to leave this country. You are just as illegitimate as a new immigrant. you don't have the moral high ground.

https://www.youtube.com/watch?v=u-W_8tVVc9w

You love Canada yet you hold no value to what was established here that made Canada what it is. (FYI Coast Salish communities are not bound by Canada's borders) You seem to love all these fashionable consumer items that were designed in the West. Vancouver also has a false economy where income is nowhere near the actual cost of living. (another FYI, many people of the Coast Salish Communities, along with the rest of us are living on the edge financially as they only get the benefit of cheap housing if they are on the reserve, they pay just the same and just as unhappy with the "foreign capital" AKA money laundering) What is ironic is most Canadians outside of Vancouver will never drive a car that costs as much as a Volvo, ever be able to afford an appliance made by Fisher and Paykel and will take the best free phone that their cellphone provider will give them as they couldn't afford to buy a cellphone without an awful locked in plan.

So you believe all people who came here in the past few hundred years are illegitimate nationless people. Sounds like you believe we will have an uprising similar to what happened in South Africa and all the whites will be chased out but you will get to magically stay. So you must believe that Canadians of Chinese descent who left the corrupt communist rule of China (from Canada's beginning until about 1980) to legitimately start anew here are traitors? The very same who are equally outraged as these silly whites who don't belong here anyway, right? So what about various African, Asian (other than Chinese), Latin American and people from other corners here? All illegitimate too?

Another English saying "That's a slippery slope you are climbing"...

[Tourist9394]

Originally Posted by retro_orange

You love Canada yet you hold no value to what was established here that made Canada what it is. (FYI Coast Salish communities are not bound by Canada's borders) You seem to love all these fashionable consumer items that were designed in the West. Vancouver also has a false economy where income is nowhere near the actual cost of living. (another FYI, many people of the Coast Salish Communities, along with the rest of us are living on the edge financially as they only get the benefit of cheap housing if they are on the reserve, they pay just the same and just as unhappy with the "foreign capital" AKA money laundering) What is ironic is most Canadians outside of Vancouver will never drive a car that costs as much as a Volvo, ever be able to afford an appliance made by Fisher and Paykel and will take the best free phone that their cellphone provider will give them as they couldn't afford to buy a cellphone without an awful locked in plan.

So you believe all people who came here in the past few hundred years are illegitimate nationless people. Sounds like you believe we will have an uprising similar to what happened in South Africa and all the whites will be chased out but you will get to magically stay. So you must believe that Canadians of Chinese descent who left the corrupt communist rule of China (from Canada's beginning until about 1980) to legitimately start anew here are traitors? The very same who are equally outraged as these silly whites who don't belong here anyway, right? So what about various African, Asian (other than Chinese), Latin American and people from other corners here? All illegitimate too?

Another English saying "That's a slippery slope you are climbing"...

You ever talked to Coast Salish people? I am friends with Elder Larry Grant, he told me he is happy new immigrants are here and urged us to care for the environment. The guy is half Chinese half First Nations: he is doing great things promoting Chinese-First Nations ties in Canada. Something Canadian government or middle class never done before.

Remember China is still friends with Zimbabwe, and the city I am from was handed over from British colony to Hong Kong SAR. I genuinely hope for the day British Columbia change their name to Chinese Columbia. Glad Canada is multicultural society it is today, and democracy is great. What we must heed is the double standards of freedom and democracy. Never heard of Spanish brothers or our Nubian friends complain about foreign capital, they are very happy China is investing in their nations building railways and creating economic value to their nation.

Great, you figured out Vancouverites can't afford luxury cars, or Fisher & Paykel appliance or Huawei cellphones. Why? Maybe they are too busy smoking a tree or getting high off fentaynal which is created in China btw. What have the Canadian middle class created after 150 years of nationhood? What world-class brand is out there that foreign entity want? Nothing, except for more resource exploitation. Perhaps it is time to find out why Vancouver become so reliant on foreign capital instead of blaming the foreign capital.

[retro_orange]

Originally Posted by Tourist9394

You ever talked to Coast Salish people? I am friends with Elder Larry Grant, he told me he is happy new immigrants are here and urged us to care for the environment. The guy is half Chinese half First Nations: he is doing great things promoting Chinese-First Nations ties in Canada. Something Canadian government or middle class never done before.

Maybe they are too busy smoking a tree or getting high off fentaynal which is created in China btw. What have the Canadian middle class created after 150 years of nationhood?

I LOVE that you brought that up because:

First Nations people 5 times more likely to overdose in B.C., data shows

Statistics on Indigenous overdose victims released for the first time on Thursday

In April, Grand Chief Edward John of the First Nations Summit said he believed the fentanyl crisis was affecting more First Nations people, but didn't have the numbers to prove it. He told the Canadian Press he'd been asking for the data for months, to no avail.


Tribal Chief Wayne Christian said the Shuswap Nation Tribal Council buried five band members from its communities in the span of a week in March 2016. He, too, was looking for provincial data to help quantify the crisis.

http://www.cbc.ca/news/canada/britis...ions-1.4234067

So given your tone, what has Elder Holt done to help First nations people stop being this statistic? Nothing.

And have I ever talked with first nations people!? Numerous friends and 2 intimate partners. Not all white people are the Boogeyman.

[whatnext]

Oh great,sunsetmountainland has been reborn.

[WarrenC12]

Don't feed the trolls people. And when did shitty knock offs like Huawei become desired brands?

[whatnext]

Gasp, does this mean the end of Lamborghinis wrapped in solar system prints, or PeptoBismol pink Bentleys?


Province cracking down on people in Vancouver who pay cash for $150,000 cars

A money laundering crackdown sparked by lavish bets at Vancouver gambling tables has a new target in sight: The Canadian city’s gleaming luxury dealerships where buyers can pay cash for $300,000 supercars.

...On average, roughly $5 million a month in suspicious cash was being flagged at B.C. casinos. “The money was walking in the front door,” Eby said. “People with shopping bags full of $20 bills would walk it up to the cage.”

In February, following the new measures, suspicious cash transactions dropped to $200,000, Eby said.

Asked if similar rules could be coming for car dealerships, Eby replied, “our provincial government will do everything possible to ensure that dirty money is not involved in our economy to the extent possible, whether it’s luxury cars, real estate, casinos or elsewhere.”..

http://theprovince.com/news/canada/t...f-bff0442d0e9e

PS typical sloppy PostMedia, with two different figures quoted in the same article!

[Sheba]

Billions in B.C. assets caught up in high-profile Chinese fraud case

China says the former chairman of Beijing-based Anbang Insurance Group defrauded mom-and-pop retail investors of more than US$10 billion and the company used that money to buy trophy assets overseas, including prime office towers in downtown Vancouver and a major B.C. seniors’ care company.

The allegation puts these B.C. deals, which each exceeded $1 billion, into the world of what is emerging as one of China’s biggest financial crime trials, with pundits trying to parse out Beijing’s desire to crack down on rising debt levels versus its political motivations for going after Wu Xiaohui and Anbang.

“It’s so interesting,” says Christine Duhaime, a Vancouver-based lawyer. “Goodness knows what it means for the Vancouver assets other than there will be a fire sale to get rid of them.”

She’s been watching Anbang’s activities in Vancouver since it first got the green light from the federal government in 2016 to buy the Bentall Centre office towers and retail mall in two transactions for over $1 billion, even though it wasn’t clear how Ottawa was able to tick off basic ownership questions about Anbang when no one else in the world could.

She also drew attention to the speed at which Anbang’s $1 billion-plus purchase of Vancouver-based Retirement Concepts, a seniors’ care company, was approved by the federal government in 2017, considering the layers of ownership and the sheer task of translating verifying supporting documents from Chinese to English.

Now, the visual of what is being suggested by the Chinese government’s allegations against Wu and Anbang should be a wake-up call, according to Alesia Nahirny, executive director of Transparency International Canada.

Nahirny says she wouldn’t categorize Anbang’s funds as necessarily being illicit. That’s normally a description reserved for money that is tied to nefarious and organized crime, but she says it’s a problem if Anbang has been diverting funds into deals in Canada that it raised by aggressively promoting risky wealth-management products to unsophisticated investors in China.

“(Money from) practices that happen elsewhere is coming to us. We are connected to it. If we are not putting the proper measures in place, we are complicit,” says Nahirny.

Since a 2015 exposé in The New York Times about “hidden global wealth” pouring into Manhattan’s most elite condo buildings, there has been some attention on a “growing proportion” of wealthy foreigners, who have been the subject of government inquiries in their home countries for cases involving white-collar housing or environmental violations and financial fraud, buying assets in North America with few questions asked.

Anbang has distanced itself from Wu’s trial in Shanghai court, but it’s fair to say dealmakers around the world are waiting to see what Anbang will sell. Musings began in 2016 when Wu was first arrested by Chinese authorities, and escalated when Beijing’s insurance regulator took over control of Anbang in February 2017

In Vancouver, commercial real estate broker Jim Szabo, vice-chairman at CBRE Ltd., who was involved with the sale of both the Bentall Centre property and the Fairmont Hotel at YVR to Anbang-related companies, said in an email that “with China putting in regulators, we only know what we have read in the press.”

While the B.C. government recently said it is asking questions about how care for seniors will be maintained at Retirement Concepts, Mike Old, co-ordinator of policy and planning for the Hospital Employees’ Union, said, “it’s prudent to prepare for fallout,” which could include Anbang “extracting revenue” by selling off some of its nursing homes or contracting out work.

“There has been a lack of transparency (for parties) on both sides of the Pacific. On that side, it has been for small investors. On this side, it’s average workers and seniors.”

[casper]

Originally Posted by Sheba

Billions in B.C. assets caught up in high-profile Chinese fraud case

I don't know....

We have an Insurance company buy up a bunch of BC property. Well Canadian insurance companies do the same. Even the Canadian Pension Plan is off buying real-state investments in one form or another.

The Insurance company gets into trouble with some bad investments and the government needs to step in and clean house. Sounds a lot like what went on with JP Morgan and Goldman Sasks in the US. Now that the government is running the show they want to divest some of the assets.

One of the investments is seniors retirement homes. With the need to produce a profit the union is concerned about lost jobs and contracting out. Is anyone surprised.

[Tourist9394]

Originally Posted by retro_orange

I LOVE that you brought that up because:


http://www.cbc.ca/news/canada/britis...ions-1.4234067

So given your tone, what has Elder Holt done to help First nations people stop being this statistic? Nothing.

And have I ever talked with first nations people!? Numerous friends and 2 intimate partners. Not all white people are the Boogeyman.

Just got the Norinco 1911 to protect my family from boogeyman. Seriously though, what does Canada manufacture that is worthwhile in the global trade? Y'all should be grateful there are so much foreign investments coming in to lubricate Canadian economy. These state enterprises pay over the top price for assets in Canada, like Nexen in Alberta, proved to be very beneficial to Canadian shareholders. Win win for everybody. Who else other than China will pay over the top price? Your brokejoke allies and neighbors like USA, Britain or France? last time I checked those from the US are trying to bully Canada into a trade war by revoking NAFTA.

[whatnext]

More parasitical Mainland Chinese real estate skullduggery. Not surprisingly from Richmond, fast becoming the Scam Capital of Metro Vancouver.

This one's connected to a little bit of everything:
-Criminal Rates of Interest
-Real Estate ponzi scheme
-Restaurant tax evasion
-Fraudulent immigration practises

A Richmond lawyer used his private mortgage corporation to arrange a “criminal rate” loan agreement, a B.C. Law Society investigation alleges.

The Law Society investigation resulted in a February 2018 citation of professional misconduct against Richmond lawyer William Lim. The case is related to a 2015 B.C. Supreme Court ruling, which found that Lim, and his company Canmerica, issued a criminal rate loan to borrowers involved in a real estate investment Ponzi scheme. Under the Criminal Code of Canada interest rates exceeding 60 per cent per annum are “criminal rates of interest.”...

...In a 2015 B.C. Supreme Court ruling, a judge found that a number of investors were involved in a Ponzi scheme perpetrated by a woman named Chiu Ling Chung. Starting in 2009, two women, Quo Huo Huang and Li Yi Wu, were involved in lending and arranging very large loans to Chung’s company, Canada World Moneytrans Finance, the ruling says. The loans from a number of investors were secured by Vancouver real estate. Chung’s company used some of the later loans to repay earlier loans. But the Ponzi scheme eventually started to unravel.

As pressure mounted for a number of investors to be repaid, in 2011 Huang, Wu and their husbands claimed they were induced by Chung to take out another loan of $2.5 million, which Chung said would fund an investment that would recoup missing funds already invested by others involved in the Ponzi scheme. The ruling says that Huang and Wu searched for a private lender to fund the loan, and eventually made a deal with William Lim....

....Lim and Canmerica have been involved in a number of legal cases revolving around immigration, real estate and business investment. Most recently, in a B.C. Supreme Court case that was settled just before going to trial, legal filings detailed allegations of secret cash dealings and transactions involving Lim and Canmerica at a Richmond Chinese restaurant business. Lim and the restaurant’s owner, a wealthy offshore real estate investor, successfully petitioned to close the settlement proceedings to the public....

...In other findings involving Lim and Canmerica, several Immigration and Refugee Board decisions say Canmerica is allegedly involved in providing work for Chinese citizens that are attempting to fulfil Canadian residency requirements.

In one case, the board found a man named Chun Qing Huang could provide “no credible evidence … that the alleged work done by the appellant for Canmerica produced any results … the evidence does not establish, on the balance of probabilities, that there is any operation for Canmerica separate from (Lim’s law practice.)”

The decision also held that Canmerica is a “business that serves primarily to allow a permanent resident to comply with their residency obligation while residing outside Canada.”...

http://vancouversun.com/news/local-n...inal-rate-loan

[Tourist9394]

Originally Posted by whatnext

More parasitical Mainland Chinese real estate skullduggery. Not surprisingly from Richmond, fast becoming the Scam Capital of Metro Vancouver.

This one's connected to a little bit of everything:
-Criminal Rates of Interest
-Real Estate ponzi scheme
-Restaurant tax evasion
-Fraudulent immigration practises

A Richmond lawyer used his private mortgage corporation to arrange a “criminal rate” loan agreement, a B.C. Law Society investigation alleges.

The Law Society investigation resulted in a February 2018 citation of professional misconduct against Richmond lawyer William Lim. The case is related to a 2015 B.C. Supreme Court ruling, which found that Lim, and his company Canmerica, issued a criminal rate loan to borrowers involved in a real estate investment Ponzi scheme. Under the Criminal Code of Canada interest rates exceeding 60 per cent per annum are “criminal rates of interest.”...

...In a 2015 B.C. Supreme Court ruling, a judge found that a number of investors were involved in a Ponzi scheme perpetrated by a woman named Chiu Ling Chung. Starting in 2009, two women, Quo Huo Huang and Li Yi Wu, were involved in lending and arranging very large loans to Chung’s company, Canada World Moneytrans Finance, the ruling says. The loans from a number of investors were secured by Vancouver real estate. Chung’s company used some of the later loans to repay earlier loans. But the Ponzi scheme eventually started to unravel.

As pressure mounted for a number of investors to be repaid, in 2011 Huang, Wu and their husbands claimed they were induced by Chung to take out another loan of $2.5 million, which Chung said would fund an investment that would recoup missing funds already invested by others involved in the Ponzi scheme. The ruling says that Huang and Wu searched for a private lender to fund the loan, and eventually made a deal with William Lim....

....Lim and Canmerica have been involved in a number of legal cases revolving around immigration, real estate and business investment. Most recently, in a B.C. Supreme Court case that was settled just before going to trial, legal filings detailed allegations of secret cash dealings and transactions involving Lim and Canmerica at a Richmond Chinese restaurant business. Lim and the restaurant’s owner, a wealthy offshore real estate investor, successfully petitioned to close the settlement proceedings to the public....

...In other findings involving Lim and Canmerica, several Immigration and Refugee Board decisions say Canmerica is allegedly involved in providing work for Chinese citizens that are attempting to fulfil Canadian residency requirements.

In one case, the board found a man named Chun Qing Huang could provide “no credible evidence … that the alleged work done by the appellant for Canmerica produced any results … the evidence does not establish, on the balance of probabilities, that there is any operation for Canmerica separate from (Lim’s law practice.)”

The decision also held that Canmerica is a “business that serves primarily to allow a permanent resident to comply with their residency obligation while residing outside Canada.”...

http://vancouversun.com/news/local-n...inal-rate-loan

https://www.youtube.com/watch?v=T-j5XWo1fPI

Another video to educate the Canadian middle class. It is very beneficial than to read Vancouver Sun which is owned by Wall Street bankers. Seems like these days the Chinese immigrants are the bogeyman.

[whatnext]

Originally Posted by Tourist9394

https://www.youtube.com/watch?v=T-j5XWo1fPI

Another video to educate the Canadian middle class. It is very beneficial than to read Vancouver Sun which is owned by Wall Street bankers. Seems like these days the Chinese immigrants are the bogeyman.

Yawn, if you all have to respond to facts is cute little Youtube clips, then the sun really has set on your mountain land Byron.

[whatnext]

In case you missed the investigative piece on Global this week, more details of how groups in Guangdong China launder money through BC's real estate and casinos:

Criminal syndicates that control chemical factories in China’s booming Guangdong province are shipping narcotics, including fentanyl, to Vancouver, washing the drug sales in British Columbia’s casinos and high-priced real estate, and transferring laundered funds back to Chinese factories to repeat this deadly trade cycle, a Global News investigation shows...

....Similarly, the regions of Vancouver, Hong Kong and Macau have formed a black market financed by intricate Chinese underground banking networks. According to the Vancouver Model report, the underground banks are at the heart of Chinese drug trafficking crime.

These secret banks have developed for centuries on China’s southern coast, police intelligence reports say. They consist of family members spread across Chinese communities worldwide. They can move money, drugs and commodities around the world, without having to send funds across national borders. The banks maintain reserves of various currencies at locations worldwide, taking deposits in one area, and paying out withdrawals in another....
Kim Marsh, a former international organized crime unit commander for the RCMP, now consults with international governments in efforts to detect corrupt officials and criminals seeking money laundering havens.

Marsh says that he agrees with Attorney General Eby’s conclusion, that Canada’s anti-money laundering system has failed.

Fintrac, as Garry Clement puts it, is a “Rolls Royce, without an engine.” He means that Fintrac’s reporting requirements are stringent, but reports rarely lead to investigations and enforcement..

...A major problem, Marsh says, is that Canadian privacy laws block police investigators from working with Fintrac agents, and accessing Fintrac’s valuable cache of evidence.

Another problem, is Canada’s gaping lawyer loophole.

A 2016 report from Transparency International said that almost 50 per cent of Vancouver’s most expensive properties are owned through legal mechanisms, such as trusts and shell companies, which are used to hide true ownership.

Canadian lawyers won an exemption from Fintrac reporting in a 2015 Supreme Court ruling...

https://globalnews.ca/news/4149818/v..._campaign=2015

Almost three years into their mandate, the Trudeau Liberals have not introduced promised new legislation to end the lawyer exemption from FINTRAC.

[whatnext]

No surprise, a damning report released today on BC Casinos and money laundering:

British Columbia’s dysfunctional regulatory regime for casinos helped fuel a perfect storm for large-scale, transnational money laundering and organized crime networks, a report released Tuesday by Attorney General David Eby says.

“Vancouver is a hub for Chinese-based organized crime,” the report, titled Dirty Money, says, but adds that large quantities of illicit drug money also move through Vancouver casinos related to Mexican drug cartels and others, including Middle East organized crime.

“A complex network of criminal alliances has coalesced with underground banks at its centre. Money is laundered from Vancouver into and out of China and to other locations, including Mexico and Colombia,” the report’s author, Peter German...

....Mr. Eby who received the German report in April, has blamed the former BC Liberal government for the money laundering status quo.

Mr. Eby responded by promising measures to “close the loopholes” allowing lenders connected to the fentanyl trade to launder money by granting large cash loans and mortgages to Vancouver-area property owners.

Mr. Eby has also said more federal money is needed to help improve the investigative capacity of police targeting money laundering.

https://www.theglobeandmail.com/cana...-crime-report/

[red-paladin]

So disheartening.

[csbvan]

What a disgrace.

[giallo]

Y'know, I really hope the NDP gets its act together, and shows British Columbians (and Canadians) that they know how to run a province, and potentially a country. I can't stand the Conservatives due to their values and wanted to inject religion where it doesn't belong, and the Liberals prove time and time again that they are corrupt.