$7.6 million trust fund stolen and laundered through casino
Two employees of a real estate firm in Richmond, Canada have been arrested following accusations of ripping off a trust of about $7.6 million. Hong Guo, a real estate lawyer with the Guo Law Corporation, contacted Canada police after noticing irregularities in the fund, and uncovered evidence that the duo was forging checks and subsequently laundering the funds through routes to arrive in China.
Despite contacting police in April of 2016, the lawyer expressed that they didn't provide any assistance. In doing her own digging, Guo uncovered evidence that one of the employees was sending the money to a bank account. It was then forwarded to an account with the BC Lottery Corporation (BCLC) at the casino in the Lower Mainland. The BCLC confirmed that the law firm initiated actions against individuals in July of 2016 for “misappropriation of funds.”
The two employees may have enjoyed some use of the funds, but not for long. In August of this year they were arrested in Hong Kong. They are now being held in Macau while they await trial.