More details are coming out Tuesday on multiple raids in Montreal and Toronto that police are linking to an extensive international money laundering network with ties to organized crime.

READ MORE: RCMP arrest 17 in alleged international money laundering scheme

The RCMP is holding a news conference in Montreal about the raids in both cities that involved multiple police forces, the Canada Revenue Agency (CRA) and the Mounties.

READ  Surrey man charged with homicide of lady at West Kelowna resort

WATCH BELOW: Canada fails to convict cash-cleaning criminals







Global News

Help us improve Globalnews.ca

More than 300 officers took part in the raids that resulted in 16 arrests, as well as the seizure of large quantities of drugs, $1.7 million in cash and properties worth $15 million.

READ MORE: Not just B.C.: Most provinces in Canada fail to secure convictions in money-laundering cases

READ  Hundreds of cans have been stacked to feed Burnaby households

The RCMP began the probe dubbed “Collector” in 2016 and wrapped it up last spring before launching the raids at around 6 a.m. Monday.

Three other suspects were still being sought.

WATCH BELOW: Money laundering expert says Canada failing to prosecute financial crimes






RCMP Sgt. Luc Thibault said the sweep targeted “individuals who facilitated the collection of money from criminal groups in Montreal and laundered the proceeds of their illicit activities.”

READ  Williams wows crowd with 'fluke shot' and bare presser

READ MORE: Strong majority supports public inquiry into B.C. money laundering

Thibault said the suspects were detained in Laval, just north of Montreal, adding that they will likely face charges including conspiracy, trafficking and laundering the proceeds of crime, while a few others arrested in Toronto were expected to be taken to Laval.


RCMP gives details on raids linked to international money laundering network

LEAVE A REPLY

Please enter your comment!
Please enter your name here