Does Vancouver have to be the money laundering capital of the world

[phreak]

Because of the guys like this one http://www.theglobeandmail.com/news...rnment-on-corruption-charges/article24179283/

we have a situation like this one http://www.theprovince.com/business...illion+above+listed+price/11018591/story.html

The conclusion is very sad though: BC government have been involved for many years and are currently involved in a serious criminality namely assisting foreign organized crime with money laundering and, what is extremely bizarre, making this felony the main purpose of British Columbia existence. I wouldn't bother too much about this issue, but the problem is that making foreign criminals comfortable in BC is done at our expense. Canadians in BC, well known for poverty and low incomes, have to pay premium price for real estate which has nothing to do with the local supply and demand. In addition to that BC government deliberately did everything they could to keep people's incomes low (e.g. minimum wage was not increased or even adjusted to inflation in more than 10 years). That was done to create the abundance of cheap and desperate workforce in order to attract more illegal investments from abroad.

You think I'm exaggerating? Look how this issue is dealt with in places less barbaric than BC:

http://www.vancouversun.com/busines...al+foreign+home+purchases/11025807/story.html

http://www.vancouversun.com/busines...billionaire/10859316/story.html#__federated=1


The question is: how all this is possible in a first world country which Canada claims to be? Why BC government are still not prosecuted and serving jail time? My only conclusion is that BC is a third world corrupt 'banana republic' - no 'first world' government, even corrupt one, would ever openly sacrificed the interests of their own citizens for the sake of solving money laundering problems of FOREIGN organized crime.

 

[1nitestan]

Best way to launder dirty Chinese money - Vancouver real estate. Don't hold your breath on falling housing prices

 

[phreak]

Best way to launder dirty Chinese money - Vancouver real estate. Don't hold your breath on falling housing prices

That's exactly my point! But this is possible only with the direct government involvement. And it's been going on for many years. And volumes are huge. And it's a felony. And millions of Canadian citizens have been defrauded due to this issue. Why nobody has been prosecuted yet?

 

[wilde]

Best way to launder dirty Chinese money - Vancouver real estate. Don't hold your breath on falling housing prices

Substitute Chinese with Russian and Vancouver with London. That is on a much larger scale than is happening here in Van. Hardly unique or even that outrageous in comparison.

 

[phreak]

Substitute Chinese with Russian and Vancouver with London. That is on a much larger scale than is happening here in Van. Hardly unique or even that outrageous in comparison.

That is correct - some other cities have the same problem, but at least they do something about it: http://www.theglobeandmail.com/repo...rs-fuel-resentment-in-london/article24030223/

'In Camden, north London, a surcharge of 50 per cent on local council tax on homes left empty for more than two years has led to a 40-per-cent reduction in the number of empty properties there. The surcharge is a tool available to boroughs across the city, but few have taken it up.

Tessa Jowell, a former MP who aims to be Labour’s candidate in London’s 2016 mayoral race, and who led the capital’s bid to stage the 2012 Olympics, believes local authorities should be able to charge unlimited penalties to homeowners who leave properties empty for more than six months. London Mayor Boris Johnson has alternately said it’s “utterly nuts” to deter foreign investors, and that they should be charged taxes 10 times the current rates.'


Here is Vancouver it's all about our government being really concerned about the well-being of foreigners with criminal past and accommodating all their needs. Canadians don't matter. They are considered only as a tool to provide service to wealthy foreigners.

 

[ziggyzoo]

Why does my 20 year old neighbour have 2 brand new bmw's, but no job? I dunno, he can't speak English.

 

[Nymphoxonadia]

That is INSANE! I was wondering about that article, how in the world would anybody be willing to spend an EXTRA 2 million dollars in that house with that kitchen and those carpets. It hit me pretty solidly when I read that these homes are mostly being used to launder money; from drug rings or brothels I am assuming? What a world we live in :/ as much as I would like to agree that it's the governments responsibility, I truly believe it is more general consensus of what the people want always which is why even with the new bill in action we are all still playing.
We like cheap things from China . But when I really think about it I know to support local. I feel like it's the same for any industry..

I read an article the other day stating that the city of Vancouver is curious about how many of the homes are vacant, and they were going to do a few things to see exactly how many, so perhaps we are only following the actions of the British? I can't find the article to link!

 

[Nymphoxonadia]

ound: this reminds me of Trailer Park Boys it would be like Bubble's kingdom

I wonder how whomever wrote that blog you posted wiinky and got that information? this was the article I was talking about. http://metronews.ca/news/vancouver/...t-residents-report-vacant-homes-in-vancouver/

_bob_[/QUOTE]

 

[phreak]

That is INSANE! I was wondering about that article, how in the world would anybody be willing to spend an EXTRA 2 million dollars in that house with that kitchen and those carpets. It hit me pretty solidly when I read that these homes are mostly being used to launder money; from drug rings or brothels I am assuming? What a world we live in :/ as much as I would like to agree that it's the governments responsibility, I truly believe it is more general consensus of what the people want always which is why even with the new bill in action we are all still playing.
We like cheap things from China . But when I really think about it I know to support local. I feel like it's the same for any industry..

I read an article the other day stating that the city of Vancouver is curious about how many of the homes are vacant, and they were going to do a few things to see exactly how many, so perhaps we are only following the actions of the British? I can't find the article to link!

There is only ONE reason why someone would waste an extra 2 million dollars: it's better to lose 2 million stolen dollars in order to launder much more! It's that simple. What's the use of millions anyway if you can't openly spend them? These guys have already bought EVERYTHING it was possible to buy without exposing themselves: cars, lavish lifestyles, hookers... you name it. And now the guy 'lost' a couple of millions he couldn't use anyway, but made way more he CAN use! Isn't it amazing?

 

[Miss*Bijou]

Within 10-15 years, Vancouver is going to be a ghost town of ugly-ass humongous houses with their garages the size of a condo. No soul whatsoever. Have you seen the hideous new constructions built over the ruins of charming older houses that keep being demolished all over the city? Families are getting the hell out.. And who can blame them. This city is way over priced and really overrated at this point. Renting or buying are both ridiculously expensive. Insanity. Future not looking good.


http://www.vancouversun.com/touch/story.html?id=10869241
https://m.facebook.com/VancouverVanishes


http://www.vancouversun.com/touch/story.html?id=8550740


https://vreaa.wordpress.com

 

[booblover]

the place selling for $2 million over asking is bull shit. The realtor under valued the house so he could generate lots of interest knowing full well that the selling price was going to be higher. Then all the press will get him noticed and tons of people will call him to get them $2 million more for their houses. Old game played by realtors.
As for money laundering all nations' criminals come to Vancouver to wash their money. On the westside it may be Chinese. In West Vancouver it is Iranians. Our Federal Government even helps them with it by not asking any questions of how the money was earned. Nor do they chase after these rich bastards for their offshore money/assets to get them to pay their taxes. Even in Richmond the Acura dealership does not have to report cash transactions for Asians unless the money is over $30 or 40 thousand (I knew an accountant for the dealership). It diesn't pay to be a domestic poor criminal....

 

[princeofdarkness]

the place selling for $2 million over asking is bull shit. The realtor under valued the house so he could generate lots of interest knowing full well that the selling price was going to be higher. Then all the press will get him noticed and tons of people will call him to get them $2 million more for their houses. Old game played by realtors.
As for money laundering all nations' criminals come to Vancouver to wash their money. On the westside it may be Chinese. In West Vancouver it is Iranians. Our Federal Government even helps them with it by not asking any questions of how the money was earned. Nor do they chase after these rich bastards for their offshore money/assets to get them to pay their taxes. Even in Richmond the Acura dealership does not have to report cash transactions for Asians unless the money is over $30 or 40 thousand (I knew an accountant for the dealership). It diesn't pay to be a domestic poor criminal....

Bingo Booblover.

 

[wilde]

the place selling for $2 million over asking is bull shit. The realtor under valued the house so he could generate lots of interest knowing full well that the selling price was going to be higher. Then all the press will get him noticed and tons of people will call him to get them $2 million more for their houses. Old game played by realtors.
As for money laundering all nations' criminals come to Vancouver to wash their money. On the westside it may be Chinese. In West Vancouver it is Iranians. Our Federal Government even helps them with it by not asking any questions of how the money was earned. Nor do they chase after these rich bastards for their offshore money/assets to get them to pay their taxes. Even in Richmond the Acura dealership does not have to report cash transactions for Asians unless the money is over $30 or 40 thousand (I knew an accountant for the dealership). It diesn't pay to be a domestic poor criminal....

Finally, someone with a well functioning brain. The alternative scenario would be a sham sale with the aim of the sham sale to drive up the prices in the neighborhood. We've all seen it, one house on the block sells for more than its fair market value, gradually all the houses in the neighborhood raises their asking price.