Gold bars, millions of dollars seized by police...is that legal?

from The Decibel · host The Globe and Mail

Back in March of this year, authorities in British Columbia filed an “unexplained wealth order” to seize a safety deposit box that belonged to Michael Patryn, the co-founder of the now-defunct cryptocurrency exchange, Quadriga. That box contained over $250,000 in cash, 45 gold bars, luxury watches and jewellery. The unexplained wealth order compels Mr. Patryn to prove that he obtained those assets legally — or else, he could lose it.Alexandra Posadzki is the Globe’s telecom reporter. She’s on the show to talk about this new legal tool that targets criminal rings and money launderers, and why critics say it could be a violation of Charter rights. Questions? Comments? Ideas? Email us at [email protected] Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

What this episode covers

Back in March of this year, authorities in British Columbia filed an “unexplained wealth order” to seize a safety deposit box that belonged to Michael Patryn, the co-founder of the now-defunct cryptocurrency exchange, Quadriga. That box contained over $250,000 in cash, 45 gold bars, luxury watches and jewellery. The unexplained wealth order compels Mr. Patryn to prove that he obtained those assets legally — or else, he could lose it. Alexandra Posadzki is the Globe’s telecom reporter. She’s on the show to talk about this new legal tool that targets criminal rings and money launderers, and why critics say it could be a violation of Charter rights. Questions? Comments? Ideas? Email us at [email protected]