Police arrest 2 for allegedly running loan-shark business, laundering more than $800K

The CFSEU-BC provided this image of one of the three "high-end" vehicles it seized during the investigation. (CFSEU-BC)

Vancouver — Investigators from B.C.'s dedicated anti-gang police agency have arrested a man and a woman and seized thousands of dollars worth of property as part of an investigation into "loan-sharking and money laundering."

The Combined Forces Special Enforcement Unit of British Columbia says the investigation began in August 2019 and eventually led to the execution of several search warrants just last week.

The suspects allegedly operated an illegal money service business and laundered more than $828,000 in cash, according to a news release from the CFSEU-BC's Joint Illegal Gaming Investigation Team.

The search warrants were executed on Nov. 5 at properties in Richmond and Burnaby and at three vehicles associated with the investigation.

Among the items seized during the searches were:

A 33-year-old woman from Richmond and a 49-year-old man from Vancouver were arrested, and the investigation is ongoing, police said.