Dean Beeby, The Canadian Press and The Globe and Mail have an interesting article today, Criminal groups threatening capital markets, RCMP.
OTTAWA — Organized crime has become a significant threat to Canada’s capital markets, a new report from the RCMP’s fraud squads says.
Major crime groups are recruiting investment professionals to help them move far beyond traditional activities – smuggling, extortion and counterfeiting – into the rarefied world of high finance and market manipulation, the Mounties say.
“Organized crime groups harness this skill set by using professional facilitators in the industry.
“The facilitators’ subjective knowledge of the true nature of these schemes ranges from willful blindness to direct fraudulent participation.”
This has hypothetical interest only since franchising is essentially a capital exchange mechanism. Further:
Organized crime and “criminalized professionals” – rogue investment specialists – are described as the two main players in financial crimes.
Criminalized professionals? They mean the crooked investment dealers, right? Right?
This of course (again in only the most-twisted imaginations possible) creates and maintains a safe haven for the buying and selling of legal services that enable international organized crime.
- Fat Tony and his counsel have nothing to fear from any hoser.
It’s taken Canada years to develop its reputation as the world’s best place for white-collar crime:
- no national regulator (take our OSC…please),
- no securities investigations (Lord Black, Nortel, Livent…),
- amnesiac centralized commercial bankers.
- oh the list goes on and on.
A farce, really. In summary, just go ask Al Rosen why he doesn’t invest in CDN listed stocks.
- Bloody Nigerian pikers.