Alleged Money Laundering Kingpins Won’t Lay Hands on Their CA$2m

Alleged criminals involved in money laundering taking advantage of casino locations in British Columbia would not get back their CA$2 million in cash, the British Columbia Appeal Court recently ruled. Royal Canadian Mounted Police obtained the cash during the notorious E-Pirate probe seeking to reveal more about the money laundering scheme deeply rooted in Richmond and the region.

With its recent decision, the British Columbia Appeal Court scrapped the possibility of the seized money in cash returning to spouses Caixuan Qin and Jain Jun Zhu. It could be recalled that about a month ago, the British Columbia Supreme Court stirred the pot with its ruling to return CA$2 million in cash to their rightful owners.

Civil Forfeiture Office Seized Assets

Back then, arguments in support of this decision indicated that the interim assets freeze of the two alleged kingpins of a money-laundering scheme was not done in the best way possible. This was to say that the Civil Forfeiture Office that has been after their assets since the beginning of this year, failed to offer fair grounds on which it froze the CA$2 million in cash, CA$2.3-million home in Vancouver, River Rock Casino chips for CA$17,800, various gift cards, as well as jewelry.

• TD Bank Could Take Away E-Pirate Money Laundering Kingpins CA$2.3M Home

Initially, British Columbia Supreme Court Associate Chief Justice Heather Holmes ruled that all assets should be frozen with the exception of the cash that could be returned to the two individuals. Their names have been linked to the operation of a Richmond-based underground bank working under the guise of Silver International.

• Civil Forfeiture Claims Richmond Casino Loan Shark Linked to Two B.C. Homes

Allegations claim the business succeeded in laundering about CA$220 million on an annual basis, but the real number might surpass this amount. Back in January, the two of them claimed that the police raids in their own home have violated their Charter rights. Having their assets seized by the authorities was not something they appreciated, as they violated their basic rights of life, liberty.

New Ruling Overtunes B.C. Supreme Court’s

According to their filing, the civil forfeiture that took place earlier failed to state any legal basis on which it was happening. Fast forward several weeks later, Justice Mary Newbury ruled that the CA$2 million bagged four years ago should not be returned to the alleged money laundering criminals. This means that the cash, as well as the remaining assets seized back then, would remain under the freeze order issued earlier this year.

• River Rock Casino Allowed High-Risk Moneylender to Wash CA$4.2M despite Earlier Prohibition

The next step would be for the British Columbia Supreme Court to issue its stance on the civil forfeiture case. Judge Newbury said that returning the cash to the alleged kingpins would most certainly result in its immediate disappearance, rendering all future attempts of locating them futile.

• Richmond City Hall Joins Money-Laundering Public Inquiry Push with Ready Plan for Action

Paul King Jin has been known for his loan shark activity frequenting casino locations such as River Rock Casino in Richmond. Moreover, a police probe has indicated that Mr. Jin has made trips in the past between the Richmond condo and Silver International, also associated with money laundering activity.