"A Toronto jeweller described by U.S. authorities as a chief money launderer for alleged drug kingpin Ryan Wedding has been denied bail. Rolan Sokolovski faces extradition to California, where he's charged in a cocaine-trafficking conspiracy linked to Wedding's purported criminal network. In a downtown Toronto court on Friday, Ontario Superior Court Justice Peter Bawden said it's likely Sokolovski has access to "substantial, undisclosed" cryptocurrency, making him a "considerable" flight risk."
"U.S. authorities accuse Sokolovski of acting as the "de facto bank" and bookkeeper for the alleged drug ring, laundering hundreds of millions of dollars while handling cash, cryptocurrency and wire transfer payments for the group. The U.S. Treasury Department announced sanctions in November on Sokolovski and his Thornhill, Ont.-based business, Diamond Tsar, which he allegedly used as a front to launder drug proceeds."
Rolan Sokolovski was denied bail and remains in custody while facing extradition to California on charges tied to a cocaine-trafficking conspiracy linked to Ryan Wedding. Ontario Superior Court Justice Peter Bawden found Sokolovski likely has access to substantial, undisclosed cryptocurrency and thus represents a considerable flight risk. U.S. authorities allege Sokolovski acted as the de facto bank and bookkeeper for the alleged drug ring, laundering hundreds of millions through cash, cryptocurrency and wire transfers. The U.S. Treasury sanctioned Sokolovski and his Thornhill business Diamond Tsar. Mexican raids seized an estimated $40 million US in motorcycles linked to the network.
Read at www.cbc.ca
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