The British Columbia government says its civil forfeiture office has secured $10 million from a company that provided payment processing services for people found guilty or who are alleged to have been running scams against vulnerable seniors.
Solicitor General Mike Farnworth says the settlement agreement with PacNet Services Ltd. is the largest forfeiture in the history of the program that started in 2006.
Under the settlement deal, there is “no admission or finding of unlawful activity on the part of PacNet” or its principals, while the company agrees to forfeit $10 million.
Farnworth says in a statement that the forfeiture is “a clear message” that the province will “continue to take decisive action against suspected proceeds of unlawful activity.”
The government statement says PacNet was a money-service business that was headquartered in B.C. but processed payments for clients around the world, including individuals who allegedly operated scams targeting seniors.
Documents filed in B.C.’s Supreme Court show authorities in the United States were investigating mass-mailed solicitations believed to be exploiting “vulnerable groups” and “referred potential civil forfeiture of PacNet’s assets” to the B.C. Civil Forfeiture Office.
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