The B.C. Real Estate Association (BCREA) says the mortgage stress test introduced by Ottawa one…
The stately $17-million mansion owned by a suspected fentanyl importer is at the end of a gated driveway on one of the priciest streets in Shaughnessy, Vancouver’s most exclusive neighbourhood.
A block away is a $22-million gabled manor that police have linked to a high-stakes gambler and property developer with suspected ties to the Chinese police services.
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Both mansions appear on a list of more than $1-billion worth of Vancouver-area property transactions in 2016 that a confidential police intelligence study has linked to Chinese organized crime.
The study of more than 1,200 luxury real estate purchases in B.C.’s Lower Mainland in 2016 found that more than 10 per cent were tied to buyers with criminal records. And 95 per cent of those transactions were believed by police intelligence to be linked to Chinese crime networks.
They are also an indication of how — according to police intelligence sources — Canada’s narcos are hiding the huge amounts of cash they are amassing from the fentanyl crisis, which resulted in the deaths of thousands of Canadians last year.