December 8, 2010

http://www.vancouversun.com/news/Seven+arrested+massive+Calgary+crime+bust/3941309/story.html

A two-year investigation uncovered a money-laundering, cocaine, illegal gambling and tax-evasion scheme

RCMP have busted a massive money-laundering, cocaine, illegal gambling and tax-evasion scheme, arresting seven people.

The two-year organized crime investigation, dubbed Operation KWADRANT, was sparked after suspected money laundering at a casino.

On Tuesday morning, police raided 11 homes, including nine in every quadrant of the city. Chestermere and Cochrane homes were also searched.

Police seized 4.5 kilograms of cocaine and two Lamborghinis, two Porsches and other luxury cars from homes in Calgary, Cochrane and Chestermere.

Police have arrested five men and two women between the ages of 40 and 60, said Insp Doug Pott. They are known to police.

Police are calling them “top level players,” however, criminal charges may take months because of the complexity of the case.

Four houses and one business valued in the millions of dollars and two bank accounts have been restrained. These restraint orders allow police to search them and restrict any attempts to sell or otherwise dispose of these properties.

“There are inspection clauses within the restraints that allow us to inspect the house,” said Potts.

The morning raids saw 80 police officers from the RCMP and Calgary police take part.

Some homes had their doors kicked in by the tactical team.

Calgary Integrated Proceeds of Crime (IPOC) was searching for evidence related to a ongoing two-year investigation involving money laundering, possession of proceeds of crime, illegal gaming, tax evasion, charging of criminal interest rates, criminal organization and drug trafficking.

Organized Crime is an RCMP priority and Integrated Proceeds of Crime resources are a vital component in the fight against Organized Crime. Within this process the IPOC mandate is to identify, seize, restrain and forfeit proceeds of crime and investigate money laundering activity. The IPOC program in Alberta works closely with Canada Revenue Agency, Alberta Government Civil Forfeiture and Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

Calgary Integrated Proceeds of Crime is made up of RCMP, Calgary Police Service (CPS), Canada Revenue Agency (CRA), Public Prosecution Service Canada (PPSC), Forensic Accounting Management Group (FAMG) resources and services Southern Alberta.