September 26, 2016
Documents provided by the U.S. Department of Justice are providing a look at the history of PacNet, a little-known Vancouver payment processing company that Washington alleges was key to an international money-laundering operation.
U.S. authorities last week seized a PacNet bank account. According to an affidavit sworn last week in support of the warrant to seize the account in the name of PacNet Services Ltd, there is “probable cause” to believe the funds in PacNet’s U.S.-based bank account were derived from proceeds of fraud or involved with money laundering.