Canada-wide money laundering group stopped, Alberta law enforcement says

A Canada-wide money laundering organization has been stopped after a three-year investigation, starting in Calgary.

The Alberta Law Enforcement Response Team (ALERT) says it has arrested seven suspects, who are facing 71 charges in Calgary and Vancouver, as a result of Project Collector.

Arrests took place in September this year.

Investigators say charges include participation in a criminal organization, laundering proceeds of crime, and trafficking property obtained by crime. In addition, charges were also laid under “the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.”

They add more than $16 million has been seized in bank accounts, real estate holdings, and cars.

ALERT says the organization was allegedly transferring money between Ontario, Alberta, and British Columbia, adding in one year, investigators were able to identify $24 million of transferred cash. The team claims the group has been laundering money since 2013.

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According to ALERT, Project Collector was launched in July 2018 when $1 million destined for Vancouver was intercepted in Calgary.

The investigation found the group allegedly used pseudo-bank branches to transfer funds, believed to be related to drug trafficking.

ALERT adds, during the course of the investigation, search warrants were issued at 10 homes in Calgary, Toronto, and Vancouver.

Project Collector was done as a collaboration between multiple policing agencies across the country, as well as the Canada Revenue Agency.

ALERT is asking anyone who suspects drug or gang activity to call local police, or leave a tip anonymously through Crime Stoppers at 1-800-222-8477.