Two NRIs charged
with money laundering
Langely, BC, June 27, 2009
Media Relations Officer
RCMP
Two NRIs, Robinderpal Rathor, 30 and Taranjit
Rathor, 21, were both charged with several counts of
money laundering and conspiracy to commit money laundering after
a total of $160,000 US Dollars was seized as offence related property
by RCMP’s Federal Integrated Proceeds of Crime (IPOC) Unit
in Vancouver.
This investigation began in 2007 after police received intelligence
to lead them to target two Currency Exchange businesses in Langely,
BC. These two Currency Exchanges were operated by two men who
were allegedly laundering the proceeds of crime through these
businesses. Through the use of RCMP undercover operators, "E"
Division Federal Integrated Proceeds of Crime was able to infiltrate
this criminal organization. Investigators were able to successfully
launder $21,300 Canadian Dollars and over $550,000 US Dollars
through the money exchange businesses.
In May 2008, with the assistance of Langley Detachment, several
search warrants were executed and $154,500 Canadian Dollars was
seized as offence related property. The two men were arrested
and charged with many counts of money laundering and conspiracy
to commit money laundering. They have had several court appearances
however, no plea or trial date has been confirmed. Their next
court appearance is on July 15, 2009.
“Money laundering is usually linked to drug trafficking
and people who knowingly participate in money laundering by turning
a blind eye and not asking the right questions on where the money
is coming from is contributing to help put profits into pockets
of drug traffickers. If you participate in money laundering then
you are no different then the drug traffickers themselves. The
RCMP will track you, bust you and shut down your business if you
are involved,” says Inspector Wade Lymburner, Officer in
Charge of the Federal Integrated Proceeds of Crime unit it BC.
The RCMP would like to remind business owners to exercise due
diligence in questioning where a large sum of money is coming
from before incorporating it into their own business, to ensure
they are not contributing to organized crime themselves.
To assist in educating businesses about money laundering the
RCMP Federal Integrated Proceeds of Crime unit has launched its
fifth annual Merchants Against Money Laundering awareness campaign.
For the fifth year in a row, students from the University of British
Columbia work with IPOC during the summer months in delivering
presentations to businesses about money laundering and how it
negatively impacts their business and community.
This short, forty-five minute personal presentation is available
upon request that will focus on and discuss:
• Why criminals launder money
• The methods money launderers use
• How to identify a suspicious transaction
• How your business can be used to facilitate the laundering
process
• The role of FINTRAC (Financial Transactions and Reports
Analysis Centre of Canada)
The last thing a business owner wants to do is be associated to
money laundering as it negatively impacts their business’s
reputation and ultimately makes them participate in criminal activity.
For more information and to participate in this money laundering
educational opportunity, please contact:
Chris Pallai
Student - Merchants Against Money Laundering
chris.pallai@rcmp-grc.gc.ca
(778)571-7412
Marc Sorrie
Student - Merchants Against Money Laundering
marc.sorrie@rcmp-grc.gc.ca
(778)571-7411
Origins of hawala, hundi and other related words:
When the word came into Hindi and Urdu, it retained these meanings,
but it also gained the additional meanings 'trust' and 'reference'
which reflect the manner in which the system operates. Furthermore,
in popular usage',hawala' is often used to refer to any sort of
financial crime, particularly money laundering or fraud. A hundi
operator is a hundiwala , which also means banker or foreign exchange
dealer.
