RCMP lay 29 charges in alleged $40M money laundering scheme tied to Alberta business

CBC News

· Posted: Jun 30, 2025 1:43 PM EDT | Last Updated: 6 hours ago

The RCMP's Integrated Money Laundering Investigative Team has charged 2 individuals and a institution successful transportation with an alleged $40-million planetary wealth laundering scheme.

Canex Forex Ltd., Alberta nonmigratory Kevin Sarrafi, 39, and British Columbia nonmigratory Saba Sarrafi, 45, look charges related to wealth laundering and fraud, RCMP said successful a release.

The 2 accused individuals, who owned and operated a wealth work concern with locations successful Calgary and Vancouver, are alleged to person committed fraud against respective fiscal institutions, RCMP said successful a release.

The alleged fraud saw much than $40 cardinal transferred into Canada from the United Arab Emirates via "a analyzable web of ammunition companies and third-party bank accounts," RCMP said.

"This probe underscores the captious value of collaboration betwixt instrumentality enforcement, nationalist agencies, and the backstage assemblage to fortify and enforce Canada's anti-money laundering regime," said the release.

Kevin Sarrafi was charged with 27 offences and was scheduled to look successful tribunal successful Calgary connected Monday. Saba Sarrafi was charged with 29 offences and a Canada-wide warrant was issued for his arrest, RCMP said. 

Canex Forex was charged with 29 offences.