Alberta
Incredible luxury homes and vehicles seized in massive international $55 million drug bust with Alberta roots
Niagara-On-The-Lake home seized by police in Project Cobra operation
News release from the Alberta Law Enforcement Response Team (ALERT)
Project Cobra intercepts $55 million worth of drugs
More than an estimated $55 million worth of methamphetamine and cocaine has been seized following a cross-border investigation by ALERT, RCMP Federal Serious and Organized Crime, and the U.S. Drug Enforcement Administration.
Project Cobra is a nearly three-year organized crime investigation into transnational drug importation, drug trafficking, and money laundering.
As the result of enforcement initiatives on both sides of the border, 928 kilograms of methamphetamine and 6 kilograms of cocaine were intercepted. In addition, approximately $7 million worth of assets have been seized or placed under criminal restraint.
Project Cobra relied on the assistance of a number of police agencies and specialized units, including: Calgary Police Service, Edmonton Police Service, U.S. Homeland Security Investigations, U.S. Customs and Border Protection, Canada Border Services Agency (CBSA), Niagara Regional Police, Canada Revenue Agency, Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), and RCMP units in Ontario, Nova Scotia, Saskatoon, North Battleford, Sask., and Osoyoos, B.C.
Police agencies collaborated to make numerous large-scale drug seizures during the course of Project Cobra. These were shipments destined for Alberta, and included the following seizures:
- 342 kg of meth in Wyoming;
- 308 kg of meth in Los Angeles;
- 137 kg of meth in Calgary;
- 84 kg of meth in Los Angeles;
- 50 kg of meth at Lake Koocanusa, B.C.;
- 7 kg of meth and 1 kg of cocaine in Calgary; and
- 5 kg of cocaine in North Battleford, Sask.
Nineteen firearms were also seized, which included handguns, rifles, submachine guns, and suppressors.
Seven million dollars’ worth of property, bank accounts, luxury vehicles, and other suspected proceeds of crime has been seized or placed under criminal restraint. This includes a $3.5 million home in Niagara-on-the-Lake, two Lamborghinis, a Porsche, classic cars, and $200,000 cash.
Project Cobra began in 2020 and a series of 11 coordinated search warrants were executed in December 2021. Homes, vehicles, businesses, and storage locations were searched in Calgary, Bedford, Nova Scotia, Niagara-on-the-Lake, Ont., and Leduc County, Alta.
Fifteen people and one business have been charged with 80 criminal offences ranging from participation in a criminal organization, to importation of a controlled substance, to laundering proceeds of crime, to drug trafficking.
The suspects were arrested and charged between May 2022 and August 2022:
- Elias Ade, 38-year -old from Calgary, charged with 12 offences;
- Abdul Akbar, 37-year-old from Calgary, charged with 8 offences;
- Tianna Bull, 25-year-old from North Battleford, charged with 1 offence;
- Lina El-Chammoury, 50-year-old from Calgary, charged with 2 offences;
- Russell Ens, 39-year-old from North Battleford, charged with 2 offences;
- Talal Fouani, 46-year-old from Calgary, charged with 3 offences;
- Belal Fouani, 44-year-old from Calgary, charged with 3 offences;
- Kari-Lynn Grant, 51-year-old from Calgary, charged with 4 offences;
- Scott Hunt, 33-year-old from Calgary, charged with 3 offences;
- Ricco King, 50-year-old from Bedford, N.S., charged with 5 offences;
- Jarett Mackenzie, 32-year-old from Calgary, charged with 6 offences;
- Jesse Marshall, 52-year-old from Calgary, charged with 4 offences;
- Daniel Menzul, 32-year-old from Calgary, charged with 4 offences;
- Sean Nesbitt, 44-year-old from Calgary, charged with 3 offences;
- William Whiteford, 39-year-old from Leduc County, charged with 20 offences; and
- Fouani Equity Funds Ltd. charged with 1 offence.
Fouani Equity Funds Ltd. is a Calgary-based investment company and was charged with laundering proceeds for an organized crime group.
Members of the public who suspect drug or gang activity in their community can call local police, or contact Crime Stoppers at 1-800-222-TIPS (8477). Crime Stoppers is always anonymous.
ALERT was established and is funded by the Alberta Government and is a compilation of the province’s most sophisticated law enforcement resources committed to tackling serious and organized crime.
Alberta
Alberta government should eliminate corporate welfare to generate benefits for Albertans
From the Fraser Institute
By Spencer Gudewill and Tegan Hill
Last November, Premier Danielle Smith announced that her government will give up to $1.8 billion in subsidies to Dow Chemicals, which plans to expand a petrochemical project northeast of Edmonton. In other words, $1.8 billion in corporate welfare.
And this is just one example of corporate welfare paid for by Albertans.
According to a recent study published by the Fraser Institute, from 2007 to 2021, the latest year of available data, the Alberta government spent $31.0 billion (inflation-adjusted) on subsidies (a.k.a. corporate welfare) to select firms and businesses, purportedly to help Albertans. And this number excludes other forms of government handouts such as loan guarantees, direct investment and regulatory or tax privileges for particular firms and industries. So the total cost of corporate welfare in Alberta is likely much higher.
Why should Albertans care?
First off, there’s little evidence that corporate welfare generates widespread economic growth or jobs. In fact, evidence suggests the contrary—that subsidies result in a net loss to the economy by shifting resources to less productive sectors or locations (what economists call the “substitution effect”) and/or by keeping businesses alive that are otherwise economically unviable (i.e. “zombie companies”). This misallocation of resources leads to a less efficient, less productive and less prosperous Alberta.
And there are other costs to corporate welfare.
For example, between 2007 and 2019 (the latest year of pre-COVID data), every year on average the Alberta government spent 35 cents (out of every dollar of business income tax revenue it collected) on corporate welfare. Given that workers bear the burden of more than half of any business income tax indirectly through lower wages, if the government reduced business income taxes rather than spend money on corporate welfare, workers could benefit.
Moreover, Premier Smith failed in last month’s provincial budget to provide promised personal income tax relief and create a lower tax bracket for incomes below $60,000 to provide $760 in annual savings for Albertans (on average). But in 2019, after adjusting for inflation, the Alberta government spent $2.4 billion on corporate welfare—equivalent to $1,034 per tax filer. Clearly, instead of subsidizing select businesses, the Smith government could have kept its promise to lower personal income taxes.
Finally, there’s the Heritage Fund, which the Alberta government created almost 50 years ago to save a share of the province’s resource wealth for the future.
In her 2024 budget, Premier Smith earmarked $2.0 billion for the Heritage Fund this fiscal year—almost the exact amount spent on corporate welfare each year (on average) between 2007 and 2019. Put another way, the Alberta government could save twice as much in the Heritage Fund in 2024/25 if it ended corporate welfare, which would help Premier Smith keep her promise to build up the Heritage Fund to between $250 billion and $400 billion by 2050.
By eliminating corporate welfare, the Smith government can create fiscal room to reduce personal and business income taxes, or save more in the Heritage Fund. Any of these options will benefit Albertans far more than wasteful billion-dollar subsidies to favoured firms.
Authors:
Alberta
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