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Millions in suspected Russian crime proceeds flowed through Canadian banks and companies

A powerful Russian crime syndicate that’s accused of laundering hundreds of millions of dollars around the world appears to have also flowed millions through nearly 30 Canadian bank accounts, including those of a Montreal boxing manager and a Calgary construction company.

A handful of Canadian-registered companies also sent $17.6 million out of the country to foreign accounts associated with the crime syndicate between 2008 and 2013.

Lincoln Caylor, a Toronto lawyer who specializes in complex fraud cases, says the fact that money from a sophisticated tax fraud in Russia may have ended up in Canada is “groundbreaking.”

Read more at CBC News

This article is summarized by Canadian Fraud News Inc.