CANADA, March 27 - Mike Farnworth, Minister of Public Safety and Solicitor General, has released the following statement regarding the B.C. Civil Forfeiture Office’s filing of the next unexplained wealth order (UWO):
“Today, we have filed our third unexplained wealth order application with the British Columbia Supreme Court – a strong demonstration of our government’s commitment to take decisive action against criminals and organized crime.
“If successful, this application would see the forfeiture of $250,200 in cash, 45 gold bars, four luxury watches and a number of pieces of expensive jewelry. Through this action, we are demonstrating again that criminals will have to prove that their assets are the proceeds of lawful activity and not financial crime.
“The interntional, criminal actions of Quadriga Coin Exchange (Quadriga CX) led to thousands of people losing their life savings. The fact that this organization has been the subject of a Netflix documentary related to a high-profile cryptocurrency fraud shows that these types of crimes do not show respect for borders. Only strong enforcement that undermines the profit motive will have an impact on such criminal organizations.
“The Quadriga CX case was also profiled by Law and Order Toronto: Criminal Intent in a February 2024 episode, The Key to the Castle. While the fallout of cryptocurrency theft that leaves many victims in its wake is topical, what is even more timely is the recovery of these ill-gotten funds and converting them to community benefits in a public way.
“Gold bars may be highly liquid and flashy luxury goods, such as jewelry and Rolex watches, attract attention, but they are also attracting the attention of police and our government. If they are the proceeds of criminal activity like fraud, drug trafficking or money laundering, we will go after them.
“We will continue to take the assets from unlawful activity and redirect the proceeds of crime to much-needed victim services programs and crime prevention initiatives, such as the anti-hate grants to communities announced on Feb. 15, 2024.”
Quick Fact:
- The Notice of Civil Claim can be found on Court Services Online by referencing Supreme Court of British Columbia Vancouver Registry # S-234364.
