Send this page to someone via email

The RCMP and other police forces arrested 17 people in a series of raids in Montreal and Toronto targeting what investigators say is an extensive international money laundering network with ties to organized crime.

The two alleged leaders were picked up in the Toronto area.

Police hope to dismantle a ring that was collecting the proceeds of crime and laundering it.

Charges… Conspiracy, gangsterism, trafficking and Laundering the proceeds of crime. — Mike Armstrong (@ArmstrongGN) February 11, 2019

The RCMP, working with the Canada Revenue Agency, began the probe dubbed “Collector” in 2016 and wrapped it up last spring before launching raids Monday at around 6 a.m. More than 300 RCMP officers in Ontario and Quebec took part in Monday’s operation, aided by officers from the Montreal, Laval and Toronto police forces.

READ MORE: Not just B.C.: Most provinces in Canada fail to secure convictions in money-laundering cases

RCMP Cpl. Genevieve Byrne said the raids – which involved 11 search warrants in Montreal and Toronto – were ongoing and would likely continue throughout the day. Byrne said the warrants target 19 people, but only 15 had been arrested by early afternoon. The location of the four others remains unknown, she said.

Story continues below advertisement

WATCH BELOW: Canada fails to convict cash-cleaning criminals

2:48 Canada fails to convict cash-cleaning criminals Canada fails to convict cash-cleaning criminals

RCMP Sgt. Luc Thibault said Monday’s operation “targets individuals who facilitated the collection of money from criminal groups in Montreal and laundered the proceeds of their illicit activities.” He said in an interview that most of the money was drug-related but would not give details about the network’s operations.

READ MORE: Strong majority supports public inquiry into B.C. money laundering

Thibault also declined to say what other countries were involved in the network or where the allegedly laundered money ended up. The RCMP are planning a news conference in Montreal Tuesday morning.

Thibault said the suspects arrested Monday would be transported for detention in Laval, just north of Montreal. An RCMP plane landed around 10:15 a.m. at the St-Hubert airport in the Montreal suburb of Longueuil carrying several suspects arrested in the Toronto area. The remaining people arrested in Ontario were expected to be brought to Laval later in the day.

Story continues below advertisement

WATCH BELOW: Money laundering expert says Canada failing to prosecute financial crimes

2:03 Money laundering expert says Canada failing to prosecute financial crimes Money laundering expert says Canada failing to prosecute financial crimes

Police seized large quantities of drugs and $1.7 million in Canadian and foreign currency. Thibault said the Canada Revenue Agency seized properties “owned by network members” valued at $15 million.

READ MORE: Secret police study finds crime networks could have laundered over $1B through Vancouver homes in 2016

The RCMP is not releasing the names of the suspects arrested Monday but said they will likely face charges including conspiracy, trafficking and laundering the proceeds of crime.

Byrne said the 15 arrested suspects will appear in court Monday or Tuesday in the Montreal area.

WATCH BELOW: Public support grows for inquiry into money laundering

1:53 Public support grows for inquiry into money laundering Public support grows for inquiry into money laundering