Calgary Police have charged three men and one woman who are believed to be responsible for the production and illegal sale of anabolic steroids over the course of eight years, resulting in an illegal profit of more than 9 million dollars.
Between 2015 and 2023, it is believed the owner and operators of Pareto Pharmaceuticals, an anabolic steroid business, acquired millions in sales and then laundered the money through cryptocurrency and real estate investments.
Police began investigating the money laundering allegations in December 2020.
During the investigation, police located a manufacturing lab where pills and injectables were being made illegally.
Raw anabolic steroids and other supplies were internationally shipped to Calgary using fake names and picked up by the suspects using fake identity documents.
These supplies were then taken to the lab and manufactured into Pareto Pharmaceuticals products, packaged and distributed Canada-wide.
On Wednesday, Dec. 14, 2022, search warrants were executed at various locations throughout Calgary and Chestermere, including four vehicles, and at one location in Vancouver.
As a result, a variety of drugs and drug-related products were seized, with a combined street value of approximately $7 million.
Other seized items that are believed to be the proceeds of crime included $589,585 in Canadian currency and approximately $500,000 worth of jewelry.
As a result, Fraser LANDEEN, 33, of Vancouver, B.C., George Elias HADDAD, 33, and Spencer Jonathon RIVERS, 29, both of Calgary, are all charged with conspiracy to commit and indictable offence, laundering the proceeds of crime, trafficking of a controlled substance, possession of proceeds of crime, possession of a controlled substance for the purpose of trafficking and production of a controlled substance.
Angela LI, 28, of Calgary, is charged with trafficking of a controlled substance, possession of a controlled substance for the purpose of trafficking, possession of the proceeds of crime and production of a controlled substance.
All four of the accused are scheduled to next appear in court on Friday, Jan. 12, 2024.
Comments