What’s inside:
WEDNESDAY, SEPTEMBER 27, 2017 n Great Canadian Gaming Corporation, which owns River Rock Casino, says it complies with present regulations set forth by the GPEB and FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) and welcomes new regulations. File photo
NEWS: Woman who used boyfriend to dodge tax now sues him 3
COMMUNITY: Subsidized city programs extended 6 to adults
Money laundering alleged ‘Irregular transactions’ with high rollers at River Rock spark probe GRAEMEWOOD
Staff Reporter
GWOOD@RICHMOND-NEWS.COM
H
igh-rolling VIP gamblers from China are suspected of walking into River Rock Casino and Resort and laying down buy-ins — sometimes in excess of $500,000 and much of which is unsourced — to wash their proceeds of crime, according to an independent review of anti-money laundering practices in B.C. The previously suppressed report on money laundering at the Rock, by accounting firm MNP, was released to media Friday by Attorney General David Eby, following a Vancouver Sun investigation. “I received a series of briefings that caused me to believe that our province could do more to combat money laundering at B.C. casinos,” said Eby, who will now hire
an independent review of anti-money laundering practices after MNP cited concerns as to how B.C. Lottery Corporation has been tackling the matter. In one month (July 2015), the casino accepted $13.5 million in $20 bills alone. “River Rock staff [members] have fostered a culture accepting of large bulk cash transactions. “The issue of casinos, [River Rock] in particular, accepting large volumes of cash has now been a growing issue in the province for a number of years,” noted the report. Pertaining to the irregular cash transactions, BCLC said it will await instruction from Gaming Policy Enforcement Branch (GPEB), the provincial regulator, and the Ministry of Finance as to how it may reform in the wake of such revelations. Richmond North Centre MLA Teresa Wat, whose riding includes the casino, did not respond to Richmond News inquiries but
former BC Liberal Finance Minister Mike de Jong, told the Sun the July 2016 report was kept confidential for investigative purposes. Meanwhile, casino operator Great Canadian Gaming Corporation said in a statement it complies with present regulations set forth by the GPEB and FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) and welcomes new regulations. Nevertheless, MNP — which notes it’s difficult for casinos to source cash from Chinese nationals — describes holes in the system. MNP Interviews with casino and BCLC staff members confirmed there are “reasonable grounds to suspect money laundering” via unsourced funds, which are largely coming from wealthy non-residents and local business persons with interests in Vancouver and China. See MNP page 3
FIGHT FOR BEAUTY The fights that build cities and culture
ARTS: Victoria band Jon and Roy headline Harvest Fest's mainstage 21
SPORTS: Connaught skater invited to national camp in Montreal 22
OPENS OCT 14 Fairmont Pacific Rim, Vancouver
FightForBeauty.ca #FIGHTFORBEAUTY