The Royal Canadian Mounted Police have arrested four people in on money laundering charges. RCMP are alleging that US$2 million was laundered through New Century Financial Services of Toronto.
The company came to the attention of the RCMP as a result of previous investigations. It was operating under the guise of a legitimate business that advertised services including mortgages and investments. The RCMP says the business was not registered with federal or provincial regulatory bodies.
Those arrested were allegedly assisting with the illegal laundering of funds at the money services business.
Arrested and charged with money laundering offences are:
- An (Andy) Le, age 44, of Vaughan, Ont.;
- Quang Huy (Henry) Le, age 34, of Vaughan;
- An Bah (Andrew) Nguyen age 41, of Mississauga, Ont.; and
- Kathy Ho, age 37, of Montreal.
Viet Khanh Nguyen, age 29, of Toronto, has been charged with trafficking in marijuana and ecstacy. Viet Khanh Nguyen and Henry Le are also charged with conspiracy to traffic marijuana.
Police seized a total of 30 lbs of marijuana and 10,000 tablets of ecstacy.
“We are alleging that these people were running an underground banking system,” stated S/Sgt. Glen Oickle, acting officer in charge of the IPOC’s operations.
“They do run a legitimate money transfer business but there is also a side of the business, which we are alleging, knowingly laundered monies obtained from criminal enterprises.”
The investigation is continuing.