Thursday, August 19, 2021

Money 'recyclers' jailed

Victor Vargotskii, 59, was sentenced to 30 months while Eric Bradette, 39, pulled 15 months. They pleaded guilty to trafficking in money obtained by crime. They are mid-level players in Project Collector, an RCMP operation that dismantled a sophisticated money laundering ring in Toronto. The group made cash available to cocaine suppliers in Mexico and Colombia. Often their elaborate global swap schemes never had cash leaving the country.
The recyclers, among other things, faked the production of nine million boxes of chicken wings in order to fabricate false invoices and justify transfers of millions.

The value of the assets seized or restrained is more than $32m.
The judge wasn't impressed that Bradette is related to a former member of the Hells Angels. No connection could be made between the $275k seized and the club. Leaders of the ring, Nader Gramian-Nik, 56 and Mohamad Jaber, 51 have yet to be sentenced.