British Columbia has one hot topic over the past few months, a money laundering problem that emerged after extensive statewide surveys. With more information revealed, it became clear that the British Columbia lottery company in the past had received a green light to increase the high betting limit to C$100,000 around a time when Asians were increasingly interested in gambling.
Chinese New Year is a special time when thousands of Asians relax and dedicate their time to traveling abroad, sometimes traveling abroad and gambling. This is the trend that comes when the week-long celebrations seen in Macau are accompanied by a surge in gaming revenue at every location. Canada also sees a surge in gaming interest during that time of the year, especially when it comes to high rollers, which the Treasury knew.
GPEB Warns Of Suspicious Deal
During the recent celebrations, it was revealed that a provincial lottery company was granted permission to increase the baccarat limit from C$5,000 to six digits across casino venues in British Columbia. The move came with the approval of senior local government officials, and the reasoning behind it was that it would increase gaming revenue in the region.
The greater the revenue, the greater the regular allocation to host the community of casino venues. This eventually encourages future community development, and at the time it seemed like a viable option. Taking advantage of VIP casino customers who are willing to pour thousands of Canadian dollars into casino venues could have been a win-win situation if it wasn’t for the money laundering allegations and warnings from industry observers.
In a sense, this happened despite previous information about VIP players in China and the suspicious behavior they showed. In light of recent events and revelations, people wonder if local politicians have deliberately turned a blind eye to laundering dirty cash in British Columbia gambling houses. In May 2015, I saw Mike de Jong, then finance minister, arguing that these measures would have a positive long-term impact at the local level.
B.C. officials facilitated the process
Since 2010, Joe Schalk, former director of research at the gaming policy enforcement division, and Larry Vander Graaf, executive director of GPEB, have been alarmed by money laundering concerns and questionable deals taking place at casino venues. Later, two of them were fired without explanation. In response to these concerns, the BCLC is believed to have explained the situation, perhaps with the personal preference of senior Chinese rollers gambling with more cash, preferably 20 Canadian dollar bills. 카지노사이트
The reasons provided by the company and the conversations with industry observers have been documented. Richmond’s River Rock Casino and Vancouver’s Edgewater Casino were simply targeted as places where the Baccarat limit should be increased. Coincidentally, River Rock Casino is considered a gaming hub that has allowed millions of Canadian dollars to be laundered.
Information on the help of senior politicians was released in 2015 by current British Columbia Attorney General David Evey, who was closely involved in the development of the case. Former BCLC CEO Michael Graydon was a major proponent of the increase. In light of these revelations, more and more British Columbia are reporting that they have lost confidence in the company and calling for a public investigation into money laundering.