|CAIXUAN QIN and JIAN JUN ZHI|
Whilst most people regard money laundering as a low-risk white collar crime, from time to time we see just how dangerous it can be. A suspect has been arrested in Vancouver in the assassination of JIAN JUN ZHU, alleged to have been Canada's most prolific money launderer. RICHARD CHARLES REED, who has prior felony convictions, is accused of killing Jian back in September, whilst he was dining at a Japanese restaurant in Richmond, B.C. Another individual was injured but survived. A motive for the murder has not been made public by the authorities.
Jian, who reportedly laundered more than CAD$250m a year in criminal proceeds, through the casino industry, is believed to have been the largest laundryman in British Columbia. He cleaned dirty cash by taking money in the PRC from Chinese VIP gamblers unable to move their funds out of China, and providing casino chips or cash in Canada. No money moved through international commerce, using this technique, which is essentially a swap of funds. It has been dubbed the "Vancouver Model" by the press, although it merely adapted a commonly used strategy.
Jian and his wife CAIXUAN QIN, operated a money service business, SILVER INTERNATIONAL, that Canadian law enforcement has alleged was an illegal, unlicensed underground bank engaged in money laundering.