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by PakG1
3046 days ago
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The article doesn't say that drug money is used to buy properties. The drug money is loaned out to people who are already homeowners. What they've done is created an unexpected mechanism to launder drug money by loaning the money to homeowners and as part of the process getting a builders lien on each property, even though the lenders are not actually builders. They target borrowers that have a high need because they don't actually have a significant amount of income or cash in Canada. All their cash is in China, and they can't get it out of China, so it's a financial marriage made in hell or heaven, depending on the perspective. |
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