The MP is Joe Peschisolido, a member of the Federal Liberals.
A Global News investigation says Federal Liberal MP Joe Peschisolido’s law firm “facilitated a secretive financial transaction that might have helped an alleged Chinese cartel “drug boss” launder his unexplained wealth through a Metro Vancouver condo development, a Global News investigation reveals.”
Here’s an excerpt of the report:
“This type of deal is legal, but a client involved in this case who is a convicted drug-trafficker should have raised “huge red flags” for the Canadian politician’s firm, according to financial crime experts that reviewed documents obtained by Global News. Bare trust deals have become extremely controversial in the midst of B.C.’s money laundering scandal because the transactions allow investors to hide their ownership of land in documents only accessible to lawyers.”
Additionally, “The land deal facilitated by a lawyer at Peschisolido’s firm in 2011 involves a company directed by Kwok Chung Tam, an alleged “heavyweight” in the Big Circle Boys, a powerful Mainland China-based drug cartel, according to Canada Border Services Agency (CBSA) records.”
The allegations against Tam have not been tested in court. Among those allegations are that he imported heroin and operated a chemical drug lab.
In an affidavit, Tam said “I am not now nor have I ever been a member of a gang, triad or criminal organization.”
The report indicates that BC’s upcoming inquiry into money laundering could end up probing the services provided by law firms that have facilitated the immense amount of money-laundering that takes place in BC.
The Liberal MP could face some tough questions. As noted by Kim Marsh – a former RCMP commander in the Organized Crime Unit – “Anybody doing basic due diligence, even basic Google searches, would determine there is huge red flags, that these individuals are involved in illicit activities. So anyone doing business with them is either doing nothing, or it’s a case of willful blindness.”
Interestingly, Liberal MP Peschisolido is no longer a member of the B.C. Law Society, and the Law Society took control of his law firm in April. To make the takeover, the B.C. Law Society applied for a court order. They have not said why.
There’s also this:
“Several years ago, Peschisolido’s firm was accused of facilitating millions in underground banking transactions that are linked to a high-profile immigrant investor fraud case in Vancouver. In a separate but related case, the B.C. Securities Commission levied $5.5 million in penalties against the firm’s client Paul Se Hui Oei and Oei’s company, Canadian Manu Immigration. Oei is a prominent donor to the federal and provincial Liberal party in B.C., election records show.”
This all looks very disturbing, and the Canadian People deserve answers. Why are the Federal Liberals allowing this to go unanswered? Why were they not transparent with Canadians, instead of this having to be revealed in an investigative report? What are other Liberal MPs involved in?
It seems the Federal Liberals have much to explain.
You can read the full Global News report here.
Spencer Fernando
Photo – YouTube
