Attorney General David Eby (Black Press)

Rules reviewed to keep drug money out of B.C. real estate

Investigator looking at loans as well as casinos, David Eby says

The B.C. government’s money laundering investigator is examining real estate loans as well as suspicious casino transactions, Attorney General David Eby said Monday.

Eby said there were new specifics and individuals identified in a weekend Globe and Mail report on mortgage loans using money connected to the fentanyl trade, which police may have already been investigating. But Eby was made aware of the general problem of drug cash potentially being converted to loans after the NDP government took office last year.

Former RCMP deputy commissioner Peter German was appointed in September to examine money laundering in B.C., and to make recommendations on changes to policy. That applies to untraced cash being loaned for property purchases as well as being converted by casinos.

RELATED: B.C. appoints expert to review money laundering

“Are we getting the information we need at the Land Title Registry about these kinds of loans, to ensure that there are no loopholes being exploited,” Eby said Monday. “Are we asking the right questions about where the money came from.”

German’s report is due at the end of March, but the government has asked him to make recommendations as evidence comes forward. The province is also looking at additional measures to restrict foreign buyers from investing in B.C. real estate and pushing prices up beyond the reach of people living and working in B.C. cities.

Just Posted

Donation bin break-in ends in arrests

Police Briefs | Sept. 24

Vopak expects 240 liquid gas-by-rail cars per day

North Coast residents can learn more about the Ridley Island-based project at the open houses

Bantam Kermodes defeat Seawolves in pre-season action

The Terrace bantam rep Kermodes won an exhibition game against Prince Rupert… Continue reading

More than 35 B.C. mayors elected without contest

No other candidates for mayor in the upcoming local election in Prince Prince, Terrace, etc.

Mobile complaint team coming to B.C.’s northwest

Ombudsperson’s office wants to hear from wronged residents

VIDEO: Rare close encounter with whale pod spotted off B.C. waters

Pod of southern resident orca whales breach within arms length of whale watchers

Sister of plane crash victim that went missing in B.C. starting support network

Tammy Neron wants to help families who are searching for missing people

‘Hello, 911? There’s a horse in my living room’

Sproat Lake firefighters called to ‘rescue’ quarter-horse from Alberni Valley house

Assault charge withdrawn vs. ex-Jays pitcher Roberto Osuna

Former Toronto player agrees to peace bond

UPDATED: Bill Cosby gets 3-10 years in prison for sexual assault

Judge also declared the disgraced comedian a ‘sexually violent predator’

B.C. making progress on senior care staffing, Adrian Dix says

Minister aims to meet residential care provincial standard by 2021

B.C. realtor receives racist letter touching on ‘empty homes’

The letter has been met with condemnation of the racism after Winnie Wu posted it online

60+ surrendered cats in Okanagan get people working together

Community comes together to help surrendered cats at Penticton SPCA

U.S. worker charged after video shows him spitting on customer’s pizza

Jaylon Kerley of Detroit is charged with a felony count of food law violations

Most Read