Cosmetics company tied to Canadian casino money laundering
The money-laundering saga at Canadian casinos continues its drama
The money-laundering scheme that allegedly went on for years at Canadian casinos continues to make headlines. Amid a series of botched investigations, failed prosecutions and evidence shredding, the investigation continues and a surprising company has now been thrown into the mix. Ritzy Product Co. Ltd., a cosmetics company based in Vancouver, is now accused of having participated in the multi-million-dollar money-laundering business.
According to Vancouver police officers, they were looking into drug trafficking and money laundering as part of its “Project Trunkline” investigation. As part of the process, officers were put on the trail of several individuals who were witnessed “exchanging various bags and boxes at a company owned by Mr. Wong.” That company was a warehouse in south Vancouver owned by Ritzy Products.
Police records indicate that the company’s director, Maxim or Nelson Wong, receive some of the deliveries. Police subsequently pulled Wong over and found around $200,000 in cash in a box in the trunk of his vehicle. In the warehouse, police found around $4,600, which tested positive for traces of cocaine.
As part of its surveillance efforts, police also shadowed Wong traveling to the office of Silver International in Richmond. Silver is currently being investigated by the RCMP for money laundering that was said to be taking place at the same time Wong was visiting the company.
According to Vancouver police, “Mr. Wong was identified as a customer of Silver International and documented in ledgers seized from Silver International using the coded names ‘nelson’ or ‘nel.’ From June 1 to Oct. 15, 2015, transactions linked to Mr. Wong totaled” around $3 million in deposits, as well as approximately $18,000 in withdrawals. Wong has been charged and several assets, including vehicles, cash and property, is expected to be seized.