Decision on money laundering inquiry to be announced today

B.C. Premier John Horgan is due to announce cabinet’s decision on whether a public inquiry into money laundering in the province will take place. 

Horgan is meeting with his cabinet this morning, and will announce the decision at 10:30 a.m. PT. It will be streamed live here.

Calls for a public inquiry have grown after two reports released by the B.C. government last week revealed more than $7 billion was laundered in B.C. in 2018, including an estimated $5.3 billion through the real estate market. 

The reports were written by Peter German, a former RCMP deputy commissioner, and law professor Maureen Maloney, the chair of B.C.’s expert panel on money laundering in real estate.

Earlier this month, German released findings on money laundering in the luxury vehicle sector. Last year, another report detailed extensive links between money laundering and B.C. casinos.

More to come. 

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