$1 million in gold, cash seized at border
Vials of gold coins and cash – total value estimated at $1 million – were seized at the Douglas border crossing Oct. 6.
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Updated: October 23, 2009 11:03 AM
A man arrested at the Douglas border with undeclared gold and cash worth about $1 million is facing charges under the Proceeds of Crime and Terrorist Financing Act.
RCMP announced Friday that the man, a foreign national, was arrested Oct. 6 as he attempted to enter Canada.
Police were contacted after Canada Border Services Agency officers found the stash of gold "in a duffel bag inside a fire-safe chest wrapped up in clothing" in a northbound vehicle, said CBSA's Faith St. John.
The driver had travelled from California, she said.
The currency was found "on his person, in a laptop bag and in a duffel-type bag," she said.
RCMP's Integrated National Security Enforcement Team is also investigating.
Insp. Paul Richards said few details can be released, as the suspect is in custody under the Immigration and Refugee Protection Act.
Richards described the seizure as significant in size, and unusual in its quantity of gold.
The E-INSET team is working to determine the source of the funds and what they were intended for, he said.
According to CBSA, efforts to curb money laundering and terrorist financing have resulted in the forfeiture of nearly $60 million in suspected proceeds of crime since 2003, when the law came into effect.
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