Public Inquiry Called Into Dirty Money
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The B.C. government will hold a public inquiry into money laundering that Premier John Horgan says has distorted BC’s economy, fuelled the overdose crisis and driven up housing prices.
The decision to proceed with an inquiry follows three independent reviews that found over 7 billion dollars in money laundering in the real estate market, casinos and other sectors of the economy last year.
B.C. Supreme Court Justice Austin Cullen has been appointed to head the inquiry which has 18 months to deliver an interim report and a final report by May 2021.
“From day one, our government has been working to tackle the housing crisis and fraud that went unchecked for over a decade, hurting people and B.C.’s economy,” said Horgan. “We have taken decisive actions to combat money laundering, but questions remain and people in B.C. deserve answers. That is why we have decided to proceed with a public inquiry into money laundering in the Province of British Columbia.”
