RCMP officers have laid 29 charges against two individuals and a company accused of laundering more than $40 million through a cross-border scheme that used shell companies and third-party bank accounts to bypass Canadian anti-money laundering laws.The charges follow an investigation by the Integrated Money Laundering Investigative Team (IMLIT), part of RCMP Northwest Region Federal Policing, targeting a money service business (MSB) operating in both Calgary and Vancouver. Investigators allege that the company, run by the two accused, illegally funneled tens of millions of dollars into Canada from the United Arab Emirates, concealing the origins and true nature of the funds in violation of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.Kevin Sarrafi, 39, of Alberta, was arrested and charged with 27 offences. He is scheduled to appear in Alberta Court of Justice in Calgary on June 30. Saba Sarrafi, 45, of Coquitlam, B.C., was charged with 29 offences. A Canada-wide warrant has been issued for his arrest. Their company, Canex Forex Ltd., also faces 29 charges. Canex Forex Ltd. is a company specializing in foreign currency exchange.“The support provided by FINTRAC, the Forensic Accounting Management Group, and the Canadian Bankers Association was instrumental in advancing this case,” RCMP Federal Policing Northwest Region said in a statement. “This investigation underscores the critical importance of collaboration between law enforcement, public agencies, and the private sector.”IMLIT is a joint effort between the RCMP, the Forensic Accounting Management Group and the Canada Revenue Agency’s Criminal Investigations Division. Its mandate is to disrupt serious organized crime by prosecuting individuals involved in laundering proceeds of crime.Canadians concerned about potential scams are encouraged to visit the Government of Canada website to learn more, and to report fraud to local police and the Canadian Anti-Fraud Centre at www.centreantifraude.ca or 1-888-495-8501.
