The RCMP Northwest Region Federal Policing’s Integrated Money Laundering Investigative Team (IMLIT) has charged two people, including one Coquitlam resident, and one company with 29 charges relating to money laundering and fraud.
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The two accused owned and operated a money service business (MSB) with locations in Calgary and Vancouver and are alleged to have committed fraud against several financial institutions by transferring more than $40 million into Canada from the United Arab Emirates via a complex network of shell companies and third-party bank accounts.
The money laundering scheme was designed to disguise the source and nature of the funds, and to deliberately defeat the reporting requirements of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA).
The following accused were charged:
- Kevin Sarrafi (39), a resident of Alberta, was arrested and charged with 27 offences and is scheduled to appear at the Alberta Court of Justice in Calgary on June 30, 2025.
- Saba Sarrafi (45), a resident of Coquitlam, B.C., was charged with 29 offences, and a Canada-wide arrest warrant was issued for his arrest; and,
- Canex Forex Ltd. was charged with 29 offences.
The Integrated Money Laundering Investigative Team is a partnership between RCMP Federal Policing, the Forensic Accounting Management Group and the Canada Revenue Agency’s Criminal Investigations Division. Its mandate is to counter serious organized crime by disrupting criminal networks created to launder proceeds of crime, through the prosecution of persons engaged in money laundering activities.
If you have been the victim of fraud, report it to your local law enforcement and the Canadian Anti-Fraud Centre online at www.centreantifraude.ca, or by calling: 1-888-495-8501. Be sure to contact your bank and credit card company if you believe your personal or financial information has been compromised.
