German Report reveals extensive money-laundering in B.C.'s luxury car market GlobeBC
Retired senior Mountie Peter German has released a new report into international organized crime groups operating in Canada.International organized crime groups have been using thousands of “straw buyers” to help them export vehicles from Metro Vancouver to China – all while avoiding tens of millions of dollars in provincial sales tax.
“In the luxury-car market, there is no financial reporting of large cash purchases, no oversight of international bank wire transfers and no apparent investigation or enforcement," Attorney-General David Eby told reporters at a news conference in Victoria. “The report also uncovered a complicated luxury-vehicle export scheme.”The analysis, part of a wider review that will soon be released and include how dirty cash is being washed through B.C.
B.C. Ministry of Finance staff handling these PST refunds linked 1,000 of these straw buyers to a single exporter and more than 4,000 such recruits in total. Provincial employees identified numerous red flags including: vehicle-registration documents appearing to be altered; suspicious inconsistencies on generic export documents; straw buyers struggling to explain these anomalies; PST refunds going directly to vehicle exporters, rather than the purchasers of the vehicles.
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