Following the release of the Peter German report on money laundering in the gaming industry, the real estate industry is next.
As widely expected, British Columbia’s attorney general David Eby says there will be a second report from the former RCMP deputy commissioner which will focus on real estate transactions.
Eby says that the investigation will be larger than the gaming one due to the far higher impact that real estate has on the BC economy compared to gaming.
The consequences of ‘dirty money’ transactions are far-reaching with links to organized crime and the opioid crisis.
The German report on real estate is expected to investigate mortgages, developers, and transactions in the industry.
David Eby has not said when the new probe may begin or given any indication for the timescale for the report’s publication.
More market update: