Commissioner Austin Cullen, back centre, listens to introductions before opening statements at the Cullen Commission of Inquiry into Money Laundering in British Columbia, in Vancouver, Monday, Feb. 24, 2020. A former British Columbia gaming policy official says the concerns about increasing amounts of suspicious cash and its possible links to money laundering at casinos started rising as the province was preparing to host the 2010 Winter Olympics. THE CANADIAN PRESS/Darryl Dyck

Commissioner Austin Cullen, back centre, listens to introductions before opening statements at the Cullen Commission of Inquiry into Money Laundering in British Columbia, in Vancouver, Monday, Feb. 24, 2020. A former British Columbia gaming policy official says the concerns about increasing amounts of suspicious cash and its possible links to money laundering at casinos started rising as the province was preparing to host the 2010 Winter Olympics. THE CANADIAN PRESS/Darryl Dyck

Inquiry hears money laundering concerns at B.C. casinos rose as 2010 Olympics neared

Larry Vander Graaf told the public inquiry into money laundering there was an increase in suspected illegal money

A former British Columbia gaming official says concerns were raised as larger amounts of suspicious cash with possible links to money laundering began showing up at casinos while the province prepared to host the 2010 Winter Olympics.

Larry Vander Graaf told the public inquiry into money laundering there was an increase in suspected illegal money at casinos at the same time the RCMP was preparing to mount Canada’s largest-ever security effort to police the Olympics.

The former executive director of the B.C. Gaming Policy Enforcement Branch says staffing issues on the policing side were evident as the RCMP prepared for the Games, but serious concerns were also appearing at casinos.

Vander Graaf says investigators started noticing more suspicious cash at casinos beyond lone-sharking activities in 2007, and by 2010 the casinos were “like a drive-in” where bags of $20 bills were being delivered to parking lots.

He says he started raising concerns that B.C. casinos were being used as vehicles for money laundering because people were buying $10,000 worth of gaming chips with bundles of $20 bills wrapped in elastic bands.

The B.C. government launched a public inquiry following several reports that concluded hundreds of millions of dollars in illegal cash was fuelling B.C.’s real estate, luxury vehicle and gaming sectors.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Want to support local journalism? Make a donation here.

money laundering

Just Posted

Kootenay Lake Anger Incentive Program wraps up June 1. Photo: Jim Bailey
Incentive program rewards Kootenay angler with $1,000 prize

In catching and retaining Kootenay Lake rainbow and bull trout, fishers are supporting conservation

Map: BCWildfire Service
UPDATE: Human-caused wildfire burning near Castlegar

The McCormick Creek fire started Sunday

Tents set up under the Trail Skywalk earlier this spring. Photo: Trail Times
Message from Concerned Trail Citizens: ‘A Necessary Response’

” … if we are not part of the solution, we are part of the problem.”

“Think on These Things” is a column written by retired Creston pastor Ian Cotton. (File photo)
Think on These Things: Everyone is Invited

“Tell them there is healing, cleansing for every soul…”

Swiss guard at Vatican City. The Pontifical Swiss Guard is a minor armed forces and honour guards unit maintained by the Holy See that protects the Pope and the Apostolic Palace, serving as the de facto military of Vatican City. Photo: Etienne Girardet on Unsplash
News from The Vatican

Pope Francis issued a law decreeing that women can be installed in the lay ministries of lectors

An avalanche near Highway 1 in Glacier National Park. Avalanche Canada will benefit from a $10 million grant from the B.C. government. (Photo by Parks Canada)
Avalanche Canada receives $10 million grant from B.C. government

Long sought-after funds to bolster organization’s important work

An avalanche near Highway 1 in Glacier National Park. Avalanche Canada will benefit from a $10 million grant from the B.C. government. (Photo by Parks Canada)
Avalanche Canada receives $10 million grant from B.C. government

Long sought-after funds to bolster organization’s important work

Daily confirmed COVID-19 cases reported to B.C. public health, seven-day rolling average in white, to May 12, 2021. (B.C. Centre for Disease Control)
B.C. preparing ‘Restart 2.0’ from COVID-19 as June approaches

Daily infections fall below 500 Friday, down to 387 in hospital

(Kamloops This Week)
Puppy’s home in question as BC Supreme Court considers canine clash

Justice Joel Groves granted an injunction prohibiting the sale or transfer of the dog

Kayak the humpback whale was found dead on a Haida Gwaii beach on Saturday, May 15, 2021. (Marine Education and Research Society)
Kayak the humpback whale found dead on Haida Gwaii beach

Whale was estimated to be only 18 years old

Then-finance minister Kevin Falcon presents his last B.C. budget, Feb. 21, 2012. The province was emerging from the 2009-10 recession and repaying federal incentive to cancel the harmonized sales tax. (Tom Fletcher/Black Press)
Political veteran Kevin Falcon set for second run at B.C. Liberal leadership

Vancouver MLA Michael Lee announces on the same day

A fledgling white raven was spotted near the end of Winchester Road in Coombs. (Mike Yip photo)
Legend continues as iconic white raven spotted once again on Vancouver Island

Sightings rare everywhere in world except for central Vancouver Island location

Capt. Jenn Casey died in a crash just outside of Kamloops, B.C., on May 17, 2020. (CF Snowbirds)
Snowbirds to honour Capt. Casey, who died in B.C. crash, in 2021 tour

Tour will kick off in Ontario in June before heading west

A pedestrian wearing a mask to curb the spread of COVID-19 is bundled up for the cold weather as snow falls in downtown Vancouver on Saturday, February 13, 2021.THE CANADIAN PRESS/Darryl Dyck
Snow possible in mountain passes as cold front hits southern B.C.

Much of B.C.’s southern interior will see temperatures plunge from highs of 30 C reached over the weekend

Most Read