The RMCP has charged a Burnaby man in Edmonton following a police investigation that uncovered a $47 million money laundering scheme spanning two provinces.
Police accuse Seo of money laundering between September 2018 and August 2020 through online sales of illegal cannabis in Alberta and B.C.
He is one of seven who have been charged in connection with the alleged scheme.
Seo, who was arrested on Dec. 30, 2024, now faces charges of money laundering, failure to register a money service business, commission of offence for criminal organization, and unauthorized possession of cannabis for the purpose of selling.
Police said Seo was part of a criminal organization that involved several numbered companies operating as “unregistered money services businesses.”
Numbered companies use a number instead of a name for identification.
The companies allegedly laundered crime money by selling illicit cannabis through several online dispensaries, police said.
Investigators say they identified tens of millions in sales through e-transfer payments.
They were able to identify eight individuals who received a total of $47 million, according to the news release.
Police say that Seo was allegedly paid by the criminal organization for his part in laundering the crime money and hiding it from law enforcement, regulatory authorities, and financial institutions.
Seo is also accused of running two illicit cannabis-related businesses in Edmonton and Burnaby.
He was scheduled to appear in court in Vancouver on Jan. 31.
“This criminal organization operated throughout western Canada to collect, transfer and benefit from approximately $47 million in proceeds of crime,” said Insp. John Lamming, the officer in charge of Northwest Region Financial Integrity and Cybercrime.
He said the investigation included a partnership between the Financial Transactions and Reports Analysis Centre of Canada and the Canada Revenue Agency, as well as Vancouver Police Department and RCMP Federal Policing Pacific Region.
Lamming called it a “win” in the fight against money laundering in Canada.
Five others were also charged in connection with the investigation, including a 25-year-old from Edmonton, who received a 12-month conditional sentence. The individual was also ordered to pay more than $155,000 in proceeds of crime on June 26, 2024.
A 30-year-old Edmonton resident was given a 12 month conditional sentence and ordered to pay more than $105,000 on July 22, 2024.
A third individual from Edmonton was given a 9-month conditional sentence. The 35-year-old was also ordered to pay more than $70,000 on July 18, 2024.
On Sept. 11, 2024, a 30-year-old from Chilliwack, B.C., was given a 12-month conditional sentence. The individual was ordered to pay more than $50,000.
A 26-year-old from Edmonton was handed a 10-month conditional sentence on Sept. 25, 2024. The individual was also ordered to pay more than $85,000.
One individual from Ontario has been charged with failing to register a money service business. The 33-year-old is set to stand trial in Edmonton on Nov. 3.
