HomeNews ❯ River Rock Casino Alleged to Have Accepted Money From Loan Shark

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River Rock Casino Alleged to Have Accepted Money From Loan Shark

Every day it seems as though we are reading new things about money laundering and questionable financial dealings on the part of casinos. We know that money laundering is a problem that doesn’t seem to be going away, and British Columbia has it the worst of all the major provinces. Now, we have seen new developments for possible money laundering activity in a major B.C. casino.

The newest revelation suggests that River Rock Casino in B.C. knowingly accepted millions of dollars from a banned loan shark, according to reports. Allegedly, Paul King Jin, who was caught up in the Royal Canadian Mounted Police’s E-Pirate investigation. Claims state that the casino knowingly accepted around $4 million in cash from Jin, despite the fact that he was banned from British Columbia Lottery Corporation (BCLC) casinos at the time.

A report claims that Jin may have supplied cash to high-rollers and VIP guests, and that he did so unimpeded. However, the report also recognises that things would have been difficult to confirm, stating “It is possible that Paul Jin is also responsible for additional deliveries, but the use of subordinates makes it more difficult to confirm.”

River Rock Casino

The is not only a cause for concern when it comes to money laundering, but it also shows that the casino was in direct breach of new B.C. regulations. Indeed, in a bid to curb money laundering, the government backed a move to introduce new limitations involving the declaration, by players, of cash over a certain amount. This led to Parq Vancouver Casino in B.C. having a run-in with famed rapper Drake, who accused them of racial profiling.

For River Rock to accept large amounts of money from a player without screening that cash first, does raise some questions. There are also issues to consider when it comes to the claim, by investigators, that bosses were aware of money laundering. Not to mention, the probe, by regulators, into the fact that casino staff may have money laundering connections. These two things raise queries and questions about what is going on inside our B.C. casinos, and how much of a role the casinos themselves are playing in this process.

Reports have estimated that there has been almost $2 billion of dirty money flowing through casinos in British Columbia alone, and this has spread to other areas, such as the property market. This showed that the scale of the problem was actually much greater than many of the investigators had believed it to be. And it illustrates the different steps that need to be taken in order to ensure we are cleaning up the province.

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