WithCookieDoughVille
The following is an overview of the latest developments at the Cullen Inquiry, courtesy Global's Sam Cooper:
The CEO of the BC Lottery Corporation has told a public inquiry that he was concerned that raising bet limits in B.C. casinos to $100,000 per hand in 2014 could “open the door to larger scale money laundering” via high rollers from China using mysterious cash from underground banks, but that the corporation decided to do it anyway...
So.
What did the good Mr. Lightbody do about it back in the BC Liberal gov't day?
Well...
...(Lightbody) said he became aware of increased risks following a casino review in 2011, and subsequently delegated risk mitigation to a Lottery Corp. vice-president named Terry Towns.
“I can’t recall specifics,” Lightbody told the inquiry. “I’m sure he did something.”...
Hmmmm....
Mr. Lightbody went on to say that, at the time, he and his decided against even the small step of asking the high rollers to declare the source of their income because:
...Lightbody said he believed asking Chinese VIPs to declare their source of funds would have impacted Lottery Corp. revenue...
And then this happened:
...(Lightbody) said he was told that the BC Liberal minister responsible at the time, Mike de Jong, “would deal with this from an enforcement side.”...
Is that the sound of a vice presidentialish-type object being thrown under a proverbial bus that we just heard?
****
Mr. Lightbody went on to say that, at the time, he and his decided against even the small step of asking the high rollers to declare the source of their income because:
...Lightbody said he believed asking Chinese VIPs to declare their source of funds would have impacted Lottery Corp. revenue...
In fact, it wasn't until the Horsemen stepped in in 2015 that Mr. Lightbody was shocked (shocked I say!) to learn that something truly nefarious was going on (because apparently he previously thought garden variety money laundering was just fun and games?):
...“(The RCMP said) there was a potential tie-in with transnational terrorist financing,” Lightbody said. “I was blown away.”...
...“(The RCMP said) there was a potential tie-in with transnational terrorist financing,” Lightbody said. “I was blown away.”...
And then this happened:
...(Lightbody) said he was told that the BC Liberal minister responsible at the time, Mike de Jong, “would deal with this from an enforcement side.”...
Unfortunately, Mr. De Jong's 'deal' was not a full meal. Instead, it turned out that it was actually stuffed with rhetorical empty calories:
...(I)n 2016, when B.C.’s assistant deputy minister for gaming directed Lightbody to require gamblers to declare their source of funds, the Lottery Corp. decided not to apply the rule broadly to all large cash transactions, the inquiry heard.
Lightbody said he confirmed with Cheryl Wenezenki-Yolland, the deputy minister for gaming at the time, that the “minister didn’t mean all cash transactions” needed a declaration on source of funds...
...(I)n 2016, when B.C.’s assistant deputy minister for gaming directed Lightbody to require gamblers to declare their source of funds, the Lottery Corp. decided not to apply the rule broadly to all large cash transactions, the inquiry heard.
Lightbody said he confirmed with Cheryl Wenezenki-Yolland, the deputy minister for gaming at the time, that the “minister didn’t mean all cash transactions” needed a declaration on source of funds...
Sheesh.
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Subheader?....As per usual with this kind of historical-type stuff, Sean Holman's 'Public Eye' archives have the goods!
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Subheader?....As per usual with this kind of historical-type stuff, Sean Holman's 'Public Eye' archives have the goods!
.