Burnaby man charged in $47M money laundering scheme linked to illicit cannabis sales
Five others convicted in connection to the scheme, including a Chilliwack resident, RCMP say
A Burnaby, B.C., man has been charged in connection with a multimillion-dollar money laundering scheme that spanned across Alberta and British Columbia.
In a news release last week, the RCMP's Federal Financial Crime Team alleged that 30-year-old Harry Seo "laundered proceeds of crime via online transactions of illicit cannabis" in the two provinces between September 2018 and August 2020.
Seo was arrested on Dec. 30, 2024 and faces multiple charges, including laundering proceeds of crime, operating an unregistered money service business and the unauthorized possession of cannabis for the purpose of selling.
Investigators say he was one of a network of seven individuals who laundered approximately $47 million as part of a criminal organization.
The money laundering network reportedly involved numerous numbered companies — those that go by automatically generated names rather than naming themselves — operating as unregistered money service businesses in B.C. and Alberta.
These companies allegedly received, transferred or converted criminal proceeds through online dispensaries, with tens of millions of dollars processed via e-transfer payments.
Seo is also accused of operating two illicit cannabis-related businesses in Edmonton and Burnaby, and receiving financial compensation from the criminal organization for concealing the origins of the funds.
The investigation, which involved collaboration with the Financial Transactions and Reports Analysis Centre of Canada and the Canada Revenue Agency, has already led to convictions for five other unidentified individuals.
Among them is a 30-year-old unnamed Chilliwack resident who received a 12-month conditional sentence and was ordered to forfeit over $50,000 in proceeds of crime in September last year. The other four are all Edmonton residents.
"We collected a significant amount of evidence to demonstrate how this group laundered significant proceeds of crime earned from the sale of illegal cannabis," said Insp. John Lamming, officer in charge of Northwest Region Financial Integrity and Cybercrime in Edmonton.
"This was a substantial win in Canada's fight against money laundering and criminal organizations."
Online court records show Seo was released on Jan. 3 after his arrest "with no financial obligation."
Seo was supposed to appear in Vancouver provincial court on Friday, but records show his case has been rescheduled for Feb. 28.