NEW INVESTIGATIONS

Yu Shunhui is a prominent Hong Kong property developer who has cultivated an image as a philanthropist and an avid supporter of the Chinese Communist Party. But his business empire, we reveal, has a darker side that stretches all the way to Canada.

Documents obtained by OCCRP show that Yu owns a company called Everwell Knight Limited, which Canadian authorities say helped launder cash for the alleged organized crime member and self-described loan shark Paul King Jin.

🌐 The Big Picture: Illicit money flows from China have become a key issue in Canadian politics, especially in British Columbia, where real estate and financial transactions can be difficult to trace. This story shows how dirty money was allegedly moved through the province’s property market.

🤔 Our Data & Sources: This investigation is primarily based on 1) documents filed at the British Columbia Supreme Court by the province’s Civil Forfeiture Office 2) Hong Kong corporate records 3) Interviews with Canadian prosecutors.

>> Read the full story

OCCRP HAS IMPACT

🇱🇧 Lebanon: The United States, United Kingdom, and Canada have sanctioned former Lebanese Central Bank Governor Riad Salame for alleged corruption. Salame's secret wealth overseas was exposed by OCCRP and partners in two 2020 investigations. 

1) Lebanon's Offshore Governor

2) Offshore Firm Tied To Lebanon Central Bank Governor Sold Stock to Bank He Regulates

In an announcement about the sanctions, the U.S. Treasury Department refers to several findings from our investigations, including Salame's use of "shell companies in Panama." 

The U.S. also sanctioned Salame's son, Nady, his brother, Raja, and his assistant, Marianne Hoayek, for allegedly helping the banker conceal or move illicit funds. 

AML NEWS

🇪🇸 Spain: Three of Spain’s largest banks, BBVA, Banco Santander, and CaixaBank, will unify their anti-fraud operations through a joint business called FrauDfense, which may welcome participation from other banks and companies in the future.

🇦🇺 Australia: The Commonwealth Bank announced that clients will be limited to cryptocurrency transactions of AUS$10,000 per calendar month in a bid to reduce scams and other financial crimes.

PRESS FREEDOM NEWS

🇺🇦 Ukraine: The Committee to Protect Journalists has urged Ukrainian authorities to investigate an assault on anti-corruption journalist Volodymyr Sedov in the southern city of Ananiv.

🇰🇭 Cambodia: The government ordered internet service providers to block access to the websites and social media accounts of three major independent media outlets – the Cambodia Daily Khmer, Radio Free Asia, and Kamnotra — that have reported critically on Cambodia’s ruling regime. 

🇺🇬 Uganda: Several reporters were recently assaulted by unidentified men while trying to attend press conferences. The Committee to Protect Journalists says attacks against reporters covering politics have become frequent in the country.

CORRUPTION NEWS

🇨🇳 China: Bloomberg reports that Chinese authorities have widened their sweeping anti-corruption probe into the country’s medical sector. Investigators are rumored to be looking into medical records as far back as 20 years ago, according to Radio Free Asia.

🇦🇹 Austria: The technology conglomerate Siemens is “cooperating” with public prosecutors’ probe into an alleged fraud scheme that inflated invoices related to hospital building contracts in the city of Vorarlberg.

🇵🇰 Pakistan: Former Pakistani prime minister Imran Khan will be barred from holding public office for five years after being sentenced on corruption charges for three years. 

ORGANIZED CRIME NEWS

🇦🇺 Australia: A government-backed investigation found that Australian museums may hold over 100 antiquities looted from Cambodia.

🇬🇧 United Kingdom: The government is preparing to outlaw cold calls that offer financial services in a bid to protect citizens from telemarketing scams.