Prime Minister Justin Trudeau afflicted by Wilful Blindness on the profound impact of mortgage fraud
Op/Ed: Former chair of the audit committee of the Federal Liberal Agency of Canada argues Justin Trudeau suffers serious ethics flaws
By Elbert K. Paul, CPA – CA
As a senior financial professional who served seven leaders of the Liberal Party of Canada “(LPC)”, including four Prime Ministers, I feel an obligation to the public interest to write this piece now, in a troubled time.
We lament that we are a nation divided under the failed leadership of Prime Minister Justin Trudeau. We deserve better.
The objectives of this Opinion Editorial are threefold and assert:
The Bureau reporting of February 6 and 21, 2024 regarding the HSBC whistleblower’s disclosure of mortgage fraud since 2015, estimated at $500 million in questionable mortgages, is profoundly concerning. Also, The Bureau estimates “that from 2014 to 2023, well over $200 – Billion in Vancouver Model and Toronto Method funds could have poured through underground diaspora networks and Canadian financial institutions into Toronto’s and Vancouver’s real estate.” This investigative disclosure by The Bureau deeply troubles concerned Canadians.
Prime Minister Justin Trudeau demonstrates wilful blindness of the profound impact of mortgage fraud on Canadians. Mortgage fraud is a major contributor to Canada’s current housing affordability crisis. Regrettably, as reported by The Bureau on March 1, 2024, $65,000 was transferred in June 2016 after a LPC 2016 fundraiser to the Prime Minister’s Papineau Federal Liberal Association, from over 40 Vancouver-area donors. Four of those donations reportedly came from directors of Tiger Arms.
There are specific actions that the federal government and the Federal Liberal Agency of Canada (FLAC/LPC ) can take to immediately address the critical issues arising from The Bureau’s reporting.
Background
The question of Prime Minister Justin Trudeau on February 19, 2024, in the House of Commons by Hon. Adam Chambers was whether, as Prime Minister, his government would investigate The Bureau’s disquieting reporting.
Specifically, this reporting relates to the profoundly serious allegations of massive mortgage fraud by the HSBC whistleblower. Regrettably, the Prime Minister was evasive in his response and continued a pattern of wilful blindness to the vital issue of foreign interference by China in the current housing affordability crisis.
Also, as reported by Bob Mackin in the Breaker News on March 14, 2023, in the space of two days in the summer of 2016, Prime Minister Justin Trudeau’s Montreal riding association received almost $63,000 from donors in Vancouver, Richmond, West Vancouver and Delta.
According to the reporting, almost all the 41 donations to the Papineau Federal Liberal Association, dated July 6 and 7, 2016, were $1,500 each. Three came from directors of the Tiger Arms Ltd. Port Coquitlam gun store, including its namesake Rongxiang “Tiger” Yuan and Ke Xiao of Richmond and Peiran Yang of Vancouver.
Another $1,500 donation came from Avery H. Chow of Richmond, who replaced Yuan, Xiao and Yang on the Tiger Arms company registration in March 2020.
Also, it was disclosed by Bob Mackin that Elections Canada’s database shows that between October 2014 and September 2016, B.C. donors sent more than $224,000 across the country to Trudeau’s local re-election fund. Eighty-two of those donations, worth $118,774.55, were dated between Aug. 7, 2015, and Oct. 30, 2015 — five days after the start of the federal election campaign and two weeks after Trudeau’s Liberal majority win.
It is profoundly evident that an investigation should be initiated to address revelations reported by The Bureau of contributions totalling over $65,000 which included funds from persons who attended a June 2016 private fundraiser for Trudeau, including some individuals with allegedly overt ties to Beijing’s United Front Work Department.
These donations may have resulted in contravention of the provisions of the Election Act. This investigation of the possible contravention of the Election Act would include but not be limited to Section 363(1) being ineligible contributions from foreign person or entity.
I would observe that The Bureau’s reporting is aimed at the failed leadership of the Prime Minister and not on the positive aspects of the LPC.
Specific actions to immediately address the critical issues arising from The Bureau’s reporting.
The federal government should:
Expedite Revisions to Proceeds of Crime (Money Laundering) and Terrorist Financing Act S.C. 2000, c. 17 r.
Immediately respond to the B.C. Cullen Commission Report.
Firstly, to address the ineffectiveness of FINTRAC. This is the agency responsible for receiving and analyzing information about money laundering threats and communicating this information and analysis to law enforcement.
Secondly, there should be a sustained effort by the Federal Serious and Organized Crime (FSOC) section of the RCMP to investigate money laundering activity in British Columbia.
Improve the capacity of The Office of the Superintendent of Financial Institutions to require more diligent verification of income from foreign sources as exposed by the HSBC whistleblower in The Bureau reporting.
Implement a foreign registry similar to that of the U.S. and Great Britain.
2. FLAC, the financial agent of the LPC, should engage PriceWaterhouseCoopers (PWC), the external auditor of the LPC, to investigate the possible contravention of the Election Act. Specifically, the investigation relates to the $65,000 of donations reported by The Bureau on March 1, 2024. This investigation would include but not be limited to Section 363(1) being ineligible contributions from foreign person or entity. I would note that there is a historical precedent for this when FLAC engaged PWC to investigate ineligible contributions in the Sponsorship Scandal. FLAC returned approximately $180,000 in ineligible contributions to the Receiver General.
Conclusion
During his time as Prime Minister, Justin Trudeau has twice been in contravention of the federal Conflict-of-interest Act.
First, in 2017, the ethics commissioner found that Trudeau broke ethics laws when he accepted an invitation to a Bahamian island owned by the Aga Khan.
Second, the ethics watchdog ruled, in August 2019, that Trudeau violated conflict-of-interest and ethics laws when he tried to pressure Canada’s former attorney general, Hon. Jody Wilson–Raybould, to cut a deal with SNC Lavalin Inc., a Quebec based engineering company, that would see it avoid criminal prosecution. There was also a failure to initiate a public inquiry into the SNC Scandal.
In addition, Trudeau failed to recuse himself in the $43 million contract during COVID to run a $900 million student grant program granted to the WE organization, “a charity”. The organization had paid over $400,000 to Trudeau’s mother and other family members. Following the scandal, the WE organization is now winding down its operations in Canada.
This cynical and intentional conduct demonstrates a sense of entitlement and hubris wherein Justin Trudeau views himself as being above the law.
During the Blackface fiasco, it was asserted by JJ McCullough in the Washington Post on October 3, 2019, that Justin Trudeau was never properly vetted. Canada, he asserted, is paying the price.
On February 19, 2024, Stephen LeDrew, the longest serving President of the LPC stated in the Vancouver Province:
“This party can no longer be a vehicle for one person’s vainglorious ego, masquerading as a socialist green party, leading Canada down the woke path to an impoverished and insignificant country that was once destined to be a prosperous player.”
I note, as a Registered Liberal, it is regrettable that pursuant to Section 47 (a) of the LPC Constitution, there is no mechanism to review the leadership of Prime Minister Justin Trudeau prior to the next election.
I would assert that I, along with others, are seriously concerned about Prime Minister Justin Trudeau’s judgment, including his wilful blindness of the profound impact of mortgage fraud on the current housing affordability crisis.
We need to know the truth about mortgage fraud in Canada and the possible impact of ineligible contributions from foreign persons or entities. As we are reminded by the ancient saying:
“Then you will know the truth, and the truth will set you free.”
At this point the entire focus of Trudeau, and ALL of the Liberals, and their complicit NDP partners, is to go "Scorched Earth" on Canada, with the time they have left. They are trying to do as much damage as they can before the next election so they can spent the next decade blaming the "heartless conservatives" for all the cuts and actions that will need to be done to save what's left of this country.
Justin Trudeau ties to the CCP can no longer be denied.