Laundered Money in B.C Fueling Economy?

There is an investigation going on looking at money laundered from casinos in B.C and how it may have influenced the areas real estate market. This investigation started after the attorney general found that a casino in B.C accepted $13.5 million which can be connected to laundering. This money was laundered by high power officials …

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The Case against the Bre-X company comes to a close after 16 years, with nothing to show for it.

Bre-X is a Canadian mineral company that collapsed in 1997, due to allegations its massive gold find in Indonesia was a fraud. Although the shareholders of the company are still no richer as of 2013. The class-action lawsuit against the former executives has been dropped, or rather fizzled out, running out of money to keep …

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IWK Health Centre introduces whistleblowing phone line following former CEO expense scandal

In June of 2017, then-CEO of the IWK, Tracey Kitch, was found to have expensed $47 000 in personal charges to Atlantic Canada's largest children's hospital. Both Kitch and Stephen D'Arcy, the hospital's then-CFO (who knowingly assisted in the scandal), resigned after their involvement was made public. The IWK board of directors have since enacted …

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Former Financial Services Director of BMO branch faced chargers for embezzlement

Between 2004 and 2012 Bassam Salman embezzled an estimated 9 million dollars between three clients of a BMO in Quebec. Mr. Salman was the financial service director and he produced false documents and made unauthorized transactions over the course of 9 years. He quit his job in 2012 and returned to his home country of …

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Former Amaya CEO charged with insider trading in Quebec

David Baazov the Montreal internet gambling entrepreneur was charged with insider trading in March of 2016. The AMF (Autorite des marches financiers) alleged that Mr. Baazov and two of his associates attempted to pump up the price of Amaya stock in the lead-up of the PokerStars takeover of the company. A quote from the article …

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Lost Deposit Issues in Canadian Banks

The following article from CBC explains how Canadians are discovering that their banks have lost their deposits. Banks are able to "disclaim liability" for the loss of their customers' money in every province but Quebec. Because of this, banks are claiming they have no responsibility over the losses. Customers are able to file a complaint …

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