$6.2 Million Coal Terminal Scam Exposes Apparent Chinese Money Laundering Network
Westshore Terminals, a major player in Canada's resource export economy, fell victim to an alleged $6.2 million scam. The company operates the largest coal-loading facility on the west coast of the Americas and is building a terminal that will carry potash from BHP's mine in Saskatchewan to overseas markets.
According to a Supreme Court of British Columbia file reviewed by The Bureau, Westshore alleges it was scammed into paying millions to a contractor building its new potash export facility. However, instead of the contractor receiving the funds, they went to a numbered company registered at a PostNet store in Markham, Ontario.
The director listed for this company is Jiaying Liu, whose identity Westshore's lawyers are still trying to establish. The scam is believed to be linked to an apparent Chinese money laundering network spanning Canada's biggest banks.