NDP To Hold Money Laundering Inquiry That Might Open A Can Of Worms For BC Liberals

Premier John Horgan said the findings of three independent reviews into dirty money and the impacts it’s had on different parts of the B.C. economy have made it clear a public inquiry is needed. “It became abundantly clear to us that the depth and magnitude of money laundering in British Columbia was far worse than we imagined when we were first sworn in, and that’s why we established the inquiry today,” Horgan told reporters Wednesday. Horgan wouldn’t say whether it will lead to charges against individuals but it is expected to open a can of worms for the BC Liberal party’s conduct during the height of the money laundering problem and how they turned a blind eye to it.

VANCOUVER – The B.C. government is holding a public inquiry into money laundering in the province, which has been blamed for driving up housing prices and worsening the deadly overdose crisis.

Premier John Horgan said the findings of three independent reviews into dirty money and the impacts it’s had on different parts of the B.C. economy have made it clear a public inquiry is needed, reported CTV News.

“It became abundantly clear to us that the depth and magnitude of money laundering in British Columbia was far worse than we imagined when we were first sworn in, and that’s why we established the inquiry today,” Horgan told reporters Wednesday.

He wouldn’t say whether it will lead to charges against individuals but it is expected to open a can of worms for the BC Liberal party’s conduct during the height of the money laundering problem and how they turned a blind eye to it.

The inquiry has been tasked with delivering an interim report within 18 months, and a final report by May 2021.

The government appointed B.C. Supreme Court Justice Austin F. Cullen to head the inquiry, which will look into the impacts on real estate, gaming, financial institutions, and the corporate and professional sectors.

Attorney General David Eby said Cullen has been given the power to compel testimony from those who refused to take part voluntarily in the independent reviews.

“We are done with asking nicely. Today our government has given Justice Cullen the authority to do more than ask for voluntary participation,” Eby said.

The Conservative party said it is also supporting Investigation into BC Money Laundering.

“Canada’s Conservatives take money laundering and other white-collar crimes seriously,” said Dan Albas, Conservative Shadow Minister for Innovation, Science and Economic Development and Member of Parliament for Central Okanagan - Similkameen - Nicola.

“British Columbians deserve answers into the rampant money laundering that has taken place in the province. The status quo must not be allowed to continue.

“That is why Canada’s Conservatives support the British Columbia government’s decision to launch a public inquiry into money laundering and we expect Justin Trudeau’s Liberal government to do the same.”

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