Attorney General David Eby (Black Press)

Rules reviewed to keep drug money out of B.C. real estate

Investigator looking at loans as well as casinos, David Eby says

The B.C. government’s money laundering investigator is examining real estate loans as well as suspicious casino transactions, Attorney General David Eby said Monday.

Eby said there were new specifics and individuals identified in a weekend Globe and Mail report on mortgage loans using money connected to the fentanyl trade, which police may have already been investigating. But Eby was made aware of the general problem of drug cash potentially being converted to loans after the NDP government took office last year.

Former RCMP deputy commissioner Peter German was appointed in September to examine money laundering in B.C., and to make recommendations on changes to policy. That applies to untraced cash being loaned for property purchases as well as being converted by casinos.

RELATED: B.C. appoints expert to review money laundering

“Are we getting the information we need at the Land Title Registry about these kinds of loans, to ensure that there are no loopholes being exploited,” Eby said Monday. “Are we asking the right questions about where the money came from.”

German’s report is due at the end of March, but the government has asked him to make recommendations as evidence comes forward. The province is also looking at additional measures to restrict foreign buyers from investing in B.C. real estate and pushing prices up beyond the reach of people living and working in B.C. cities.

Just Posted

Nearly 25,000 people cast ballots in Chilliwack

Turnout 10,000 votes higher than in 2014

Popove pledges to work hard as new mayor of Chilliwack

Ken Popove to take the helm from incumbent Sharon Gaetz

Chilliwack school board results reveal clear split

Incumbents Dan Coulter, Heather Maahs and Barry Neufeld join four new board members

Popove elected mayor in Chilliwack

Gaetz second, Waddington third; new faces on city council

Mayoral results from across B.C.

Voters in 162 municipalities in B.C. set to elect mayor, council, school board and more

Tommy Chong says cannabis legalization makes him proud to be a Canadian

Legendary marijuana advocate and comedian celebrates cultural milestone at Kelowna event

Fraser Valley man dead after head on crash in Okanagan

Accident occurred at about 7:35 a.m.

Newly-elected Lower Mainland mayor won’t drink his city’s tap water

White Rock’s Darryl Walker is concerned about its quality

Kennedy Stewart challenged with building bridges as mayor of Vancouver: expert

The former NDP MP, who ran as an Independent, will lead 10 councillors divided across four parties

B.C. Youtuber to seal himself ‘in a jar’ to demonstrate impacts of climate change

Kurtis Baute wants to see how long he can last in a 1,000 cubic foot, air-tight greenhouse

One of Taiwan’s fastest trains derails, killing at least 18

The train was carrying more than 360 people

Scheer marks one-year countdown to federal election with campaign-style speech

Conservative Leader insists that it will be Justin Trudeau who ‘makes it personal’

Canada Post union announces rotating strikes in four Canadian cities

Mail will still be delivered but it will be delayed

Vees notch up another win

Undermanned Vees take down league-leading Chilliwack Chiefs

Most Read