Records reviewed by The Globe and Mail show TD Bank passed on concerns about the suspicious activities of a pro-Beijing organization to Ottawa’s financial watchdog.

By Robert Fife and Steven Chase | The Globe and Mail

Toronto-Dominion Bank closed down the accounts of a pro-Beijing organization on suspicion of money laundering in the spring of 2023, and shuttered the joint account of then-sitting MP Han Dong without explanation, according to confidential documents.

Summary

Records show TD Bank reported suspicious activities by the Confederation of Toronto Chinese Canadian Organizations (CTCCO) to FINTRAC, suspecting money laundering and “pass through activities”* involving individuals linked to criminal activities. CTCCO has ties to the Chinese consulate and Beijing’s United Front Work Department, which handles overseas propaganda and foreign interference.

Banking records show former Don Valley North MP Han Dong and his wife, Sophia Qiao, received a $200,000 cheque from CTCCO executive director Cheng Yi Wei in 2019, repaid in 2022. Mr. Dong’s joint account was closed after he left the Liberal caucus in 2023 following allegations of advising the Chinese consul-general in Toronto against the release of Michael Spavor and Michael Kovrig, which he denied. There is no explanation in the records of why Han Dong and his wife’s account was debanked.

Mr. Wei, a prominent figure in Toronto’s Chinese Canadian community, has close ties to the Chinese consulate and regularly attends events with politicians from the Liberal and Conservative parties. He is associated with Ontario Liberal powerbroker Michael Chan, who has been targeted by Canadian Security Intelligence Service since 2010. Mr. Wei has denied involvement in Beijing’s political activities.

The 16-month Hogue public inquiry into foreign interference highlighted China’s efforts to influence Canadian politicians and diaspora communities. Newly uncovered Chinese media records reveal Peter Yuen, a Liberal candidate for the 2025 federal election, was invited by a United Front-linked office to attend Xi Jinping’s 2015 military parade in Beijing. Despite these revelations, Liberal Leader Mark Carney supported Mr. Yuen’s candidacy. Mr. Yuen is the replacement candidate for Paul Chiang, who stepped down in response to allegations he had endorsed turning a political rival over to China for a bounty reward.

Read the full article at the publisher’s website here.

* A term used when money is rapidly transferred in and out of accounts, often without the account holder being directly connected to the ultimate recipient.