In a startling revelation, a Chestermere home has been linked to an extensive $9-million money laundering operation, leading to the arrest of four individuals. The operation, running from 2015 to 2023, involved Pareto Pharmaceuticals, a company specializing in anabolic steroids. Police investigations uncovered that the business, with sales amounting to a million dollars, utilized cryptocurrency and real estate investments for laundering proceeds.
The products were primarily sold online through the websites paretopharmaceuticals.com and paretopharma.com, as well as via online sales representatives and in local gyms. An intricate review of over 150 bank accounts linked to the business revealed a complex web of transactions involving multiple bank accounts, securities investments, and various cryptocurrencies.
Recent search warrants executed across several locations in the city, Chestermere, and a site in Vancouver, have led to significant seizures. The police confiscated an array of drugs and drug-related items valued at $7 million, including 82.3 kilograms of raw anabolic steroids, over 3,000 vials of ready-to-sell steroids, and more than 230,000 steroid pills. Additionally, 29 kilograms of regulated substances, various drug manufacturing paraphernalia, and large quantities of other raw materials were seized.
The financial aspect of the seizure is substantial, with the police securing around $589,585 in cash and jewelry valued at $500,000. The accused, identified as Fraser Landeen (33) from Vancouver, George Haddad (33), and Spencer Jonathon Rivers (33) from Calgary, face multiple charges. These include conspiracy to commit an indictable offense, laundering proceeds of crime, drug trafficking, possession of proceeds of crime, possession of a controlled substance for trafficking, and production of a controlled substance.
Angela Li, 28, is similarly charged with drug trafficking, possession for trafficking, possession of proceeds of crime, and production of a controlled substance. All four individuals are scheduled to appear in court on January 12.
This case has sent shockwaves through Chestermere, highlighting the insidious nature of such operations and the need for vigilant community awareness. The involvement of a local home in such a large-scale illegal operation underscores the importance of collaborative efforts between law enforcement and the community in combatting crime. The unfolding of this case is a stark reminder of the hidden complexities and dangers lurking in seemingly ordinary settings.
