we have exclusive new details tonight on covering white collar crime CTV News working in collaboration with the investigative journalism Foundation obtained an unreleased report by Canada’s Financial Watchdog showing lawyers helping criminals launder money ctv’s Quebec bureau chief gen vif bosim explains the case of Ronald Peli marked their legal first in BC he laundered $31 million from clients he knew were under investigation for sec Securities fraud in the US he used 20 burner phones email aliases and collected $900,000 in legal feeds in 2023 he became the first lawyer despart in BC for knowingly participating in a money laundering scheme an intelligence report that doesn’t name names suggests pche isn’t the only Canadian lawyer linked to Dirty Money a collaboration between CTV News and the investigative journalism Foundation obtained documents by Canada’s finan Watchdog fak it reveals 92 transactions flagged to F Trak over a three-year period deemed suspicious enough to be reported to police and national security agencies involved the legal profession and methods like shell companies that could be used by professional money laundering networks including biker gangs or drug cartels you know so if you’re a trusted person you’re in an ideal position to defraud Michael Levy is a Cardiff University Professor whose extensive research on money laundering is cited in the fin Trak report he says lawyers can be victims facilitators or primary offenders not many lawyers start off as Crooks um but some become Crooks lawyers legitimate duties can be exploited to launder money through real estate transactions luxury goods and cars but while Banks casinos and real estate brokers are required by federal law to report suspicion transactions to F Trak lawyers are exempt they argue this would violate solicitor client privilege it’s up to their law societies to set up anti-money laundering rules and conduct investigations in a statement the Federation of law societies of Canada says it shares information with finance Canada and that law societies have powers and tools including the power to compel production of information protected by solicitor client privilege that far outrip those available to F Trak and law enforcement agencies but some experts and the financial action task force a coalition of countries combating moneya laundering have said This falls short and one of the things that they’ve pointed out repeatedly is that uh K Canada is out of sync with those standards because the lawyers aren’t part of a a national system this has come into Focus as fighting moneya laundering which can fuel crimes like the drug trade or human trafficking is is now at the center of international law enforcement priorities Jean via B CTV News Montreal
An unreleased report from Canada’s financial watchdog says some lawyers are helping criminals launder money. Genevieve Beauchemin reports.
Subscribe to CTV News to watch more videos:
Connect with CTV News:
For live updates and latest headlines visit:
For breaking news, fast, download the CTV News App:
Must-watch stories and full programs at
CTV News on TikTok:
CTV News on X (formerly Twitter):
CTV News on Reddit:
CTV News on LinkedIn:
—
CTV News is Canada’s most-watched news organization both locally and nationally, and has a network of national, international, and local news operations.
That's how Vancouver and Toronto real-estate got the boom
This is NOT anything new.. happening for many years. If a fraud can be perpetuated, IT WILL.
Better Call Saul!
Gangs and the Cartels probably pay well for laundryIan their money.
Via ukraine or….?
Real estate and golf courses.
Liberals and lawyers who would’ve known
Money laundering
Trudolf knows how this works he went from 10m to 100m in 9 yrs.
Which lawyers? Government lawyers? That sounds about right.