International criminal set up companies in B.C. to launder funds

A Richmond man who pleaded guilty in the U.S. to aiding the Sinaloa cartel and other international organized crime groups hid his illicit cash in bank accounts of shell companies he registered with the B.C. government.

In some of the cases, Ramos hired a law firm and then listed his corporation’s address as his lawyer’s office. With most of Ramos’s B.C. companies, he listed a Richmond UPS office on Westminster Highway as his personal address — not the Seagrave Road home in Richmond he shared with his family until it was recently sold as part of a U.S. forfeiture order.

“Sadly we don’t have a RICO-type statute in this country or we would see more criminal forfeitures than we do,” Clement said. “The are able to go after the assets in a big way.” “Money laundering and other criminal activity have no place in our province — it hurts people, it hurts our communities, and it hurts our economy,” she said.

The next company he started was Venon Holdings Inc., incorporating it on Oct. 28, 2009 as his company expanded to the U.S., Australia, Dubai, Panama, Hong Kong and Thailand. Ramos also registered a subsidiary of Phantom Secure in Dublin. In December 2018, a high court there ordered that 500,000 euros in two company bank accounts be seized by the Irish Criminal Assets Bureau.

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