A cash cap is the only way to stop money laundering in B.C., inquiry hears

A cash cap is the only way to stop money laundering in B.C., inquiry hears

VANCOUVER — A lawyer for a gaming expert says a cash cap is the only way to stop money laundering at casinos in British Columbia.

Christine Mainville told a public inquiry today that money is not being laundered through casinos in any traditional sense.

Mainville is representing Robert Kroeker, who held top positions at the British Columbia Lottery Corp., the Great Canadian Gaming Corp. and with the province’s civil forfeiture office.

Mainville says money laundering in casinos has been blown out of proportion and the inquiry should also look at financial institutions.

The inquiry was called by B.C.’s NDP government after three reports last year said casinos and horse racing as well as the real estate and luxury car markets had become laundromats for the proceeds of crime.

Robin McFee, counsel for lottery corporation president James Lightbody, says the organization recognized the threat of money laundering in the gaming sector, adding that Lightbody worked with law enforcement and fostered a corporate culture that promotes ethical practices.

Kroeker and Lightbody were granted standing at the inquiry, which is being led by Austin Cullen, a B.C. Supreme Court judge.

This report by The Canadian Press was first published Feb. 25, 2020.

The Canadian Press

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