U.S. alleges Vancouver firm has long-term links to transnational crime
VANCOUVER — A payment processing company in Vancouver has been accused of being a “significant transnational criminal organization” by the United States Treasury Department.
In a news release Thursday, the department alleges the PacNet Group has a 20-year history of laundering cash raised through what it calls “fraudulent solicitation schemes” involving lotteries and mail fraud.
It alleges that PacNet has accepted and deposited millions of dollars in cash from U.S. victims, taken a cut and then returned the rest to “the scammers” via wire transfers from a holding account, which the department says obscures the money trail.
The Treasury Department says PacNet’s operations are conducted through a global network run by 12 people, through 24 businesses in 18 countries.