Criminal charges stayed in major B.C. money-laundering investigation

Federal prosecutors, RCMP not providing details on why the charges against Silver International Investments, Caixuan Qin and Jain Jun Zhu were stayed

Building at 5811 Cooney Road in Richmond, where Silver International Investment was located. JASON PAYNE / PNG

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Criminal charges have been stayed relating to a high-profile RCMP investigation that alleged money laundering, underground banking and suspected drug cash used to fund VIP Chinese gamblers in B.C. casinos.

And now, the RCMP is conducting a review in an attempt to identify what police “activities” could have contributed to the charges being stayed, said Sgt. Marie Damian in a statement on Wednesday.

“The RCMP is conducting a full scale review to understand its activities which contributed to this stay, and will incorporate relevant lessons learned into its investigative practices and processes where necessary,” Damian wrote in an emailed statement. “More importantly, how to mitigate against the possibility this set of circumstances occurs again in the future.”

Last week in Richmond provincial court, charges were stayed by the Crown on money laundering the proceeds of crime, possession of property obtained by crime and two counts of failing to ascertain the identity of a client against Silver International Investments Ltd., Caixuan Qin (born 1984) and Jain Jun Zhu (born 1975).

These were the only criminal charges related to the RCMP’s E-Pirate investigation, where the Mounties allege they uncovered more than $500 million from a Richmond money-laundering service they said handled up to $1.5 million a day.

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