B.C. Lottery Corporation CEO 'blown away' by police report of organized crime at casinos
Jim Lightbody says corporation did everything in its power to mitigate risk of money laundering
The president of the British Columbia Lottery Corporation says there had long been concerns about suspicious cash circulating in casinos but it wasn't until 2015 that police confirmed the presence of an organized crime threat.
Jim Lightbody told the public inquiry into money laundering that the information he received from the RCMP was a "pivotal moment'' that left him "blown away.''
He testified it was the first time the RCMP told him they had evidence that organized crime was laundering money through provincial casinos, which the Crown corporation manages and safeguards.
Lightbody, who's currently on medical leave, said the lottery corporation did everything within its powers to mitigate the risk of money laundering.
He testified the corporation allowed large cash buy-ins by some players at casinos, because many high-spending patrons frowned upon using cheques, drafts or having specialized credit accounts at casinos for privacy and cultural reasons.
The province appointed B.C. Supreme Court Justice Austin Cullen in 2019 to lead the public inquiry into money laundering after three reports outlined how hundreds of millions of dollars in illegal cash was fuelling the real estate, luxury vehicle and gaming sectors.