Posted on 08/29/2025 5:49:00 PM PDT by bitt
FinCEN says Chinese networks moving billions for Mexican cartels also push illicit cash through U.S. real estate, elder care centers, and human trafficking schemes.
WASHINGTON — The U.S. Department of the Treasury issued a stark warning Thursday that Chinese money laundering networks have become a primary engine driving Mexico-based drug cartels’ expansion into the United States, flagging $312 billion in cartel-linked suspicious transactions and a further $53.7 billion in illicit real estate activity over the past four years. Officials underscored the systemic risks posed by what they described as a sprawling global underground economy.
(Excerpt) Read more at thebureau.news ...
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p
No tickee, no washee
With all that money they own our city governments.
With all that money they own our city governments, state & fed too
Just another thanks, Biden. /s
How much of this is Chinese individuals washing their money into the US system to keep it safe? How much of this is Chinese government washing money for operations in the USA? There are protests, political campaigns and other actions which require funding.
just in time for the 600,000 Chinese students to rape our government, economy.
And the President wants to bring 600,000 Chinese knowing this?
Who bought the drugs that made this possible?
So what’s the problem? My understanding of history is that the Chinese operated laundries in many old west towns, and were quite good at it.
https://www.thebureau.news/p/fake-chinese-income-mortgages-fuel
"Fake Chinese income" mortgages fuel Toronto Real Estate Bubble: HSBC Bank Leaks “I found out a huge mortgage fraud showing borrowers with exaggerated income from one specific country, China":
The Bureau investigates whistleblower docs,/b>
https://fintrac-canafe.canada.ca/intel/operation/casino-eng
Chinese migrants living across Toronto were obtaining mortgages from HSBC while supposedly earning extravagant salaries from remote-work jobs in China. In one example, an Ontario casino worker that owned three homes also claimed to earn $345,000 in 2020 analyzing data remotely for a Beijing company.
Before joining HSBC Canada, the whistleblower had studied fake-income mortgage frauds for his Business Masters degree at Vancouver Island University. After arriving at Aurora in February 2022, while digging into the branch's loan books and interrogating his colleagues, he made mind-blowing assessments.
Since 2015, the whistleblower concluded, more than 10 Toronto-area HSBC branches had issued at least $500-million in home loans to diaspora buyers(a diaspora buyer is someone who lives outside of his home country: chinese citizen operating in the US) claiming exaggerated incomes or non-existent jobs in China.
These foreign-income scams spiked during the pandemic, the whistleblower believed, because borrowers could somewhat plausibly claim to be working remotely in other countries while riding out Covid-19 in Canada.
While a small bank of Aurora's size was expected to issue about $23-million in residential loans every year, this branch had shoveled out $88-million in mortgages in 2020, according to the whistleblower, and over $50-million in 2021.
The whistleblower, whom The Bureau is calling D.M., immigrated to Canada as an international student from India, making him a minority among mostly Chinese-Canadian co-workers at the Aurora branch.
Sam Cooper
Feb 06, 2024
The Bureau's seven-month investigation into D.M.’s allegations suggests HSBC Canada and other Canadian banks could have issued many billions of dollars in questionable mortgages to Chinese diaspora buyers, and a significant cause of Canada's real estate bubble is hundreds of billions in illicit fund transfers from China into Canada, and bank lending that amplifies its impacts, especially in Toronto and Vancouver home prices.
“There are thousands of these cases, large scale,” D.M. said in an interview. “Hardworking Canadians are denied mortgages and these Chinese residents forge documents and get mortgages approved, heating up the already hot Ontario real estate markets.”
“These people don't have steady jobs or income in Canada,” he alleged, “but what they are doing is scams to launder money, and get mortgages using fake documents.”
Ashleigh Rhea Gonzales, a former RCMP data scientist who recently published a criminology thesis finding Chinese diaspora underground banking causes significantly more money laundering into Canada's real estate than previously estimated, said that D.M.’s findings resemble her own Vancouver Model research.
“This whistleblower’s allegations of widespread mortgage fraud at HSBC Canada align with some of the first-hand accounts from staff of some Canadian financial institutions that I have come across in my research on money laundering in British Columbia,” Gonzales said.
Gonzales, who worked for RCMP’s anti-gang unit in British Columbia until 2023, says she found reports of mortgage fraud accelerated “during the uptick in the Canadian housing bubble after the Vancouver 2010 Olympics,” and continued to surge from 2015 to 2018.
With all this considered, and comparing data sources in this story with previous evidence confirmed in British Columbia's Cullen Commission, The Bureau estimates that from 2014 to 2023, well over $200-Billion in Vancouver Model and Toronto Method funds could have poured through underground diaspora networks and Canadian financial institutions into Toronto and Vancouver's real estate.
And this would be in addition to their proceeds from drugs and human smuggling. You gotta wonder what they do with the money.?
No wonder Trump wants to go after the cartels,he must realize he is going after China, Mexico,U.S. criminals working with the chicoms and cartels and who knows how many different countries?
This is a huge undertaking by our President.
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