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Canada’s New, Powerful Asset-Forfeiture Measure Faces Legal Test

Responding to a civil forfeiture claim in British Columbia, Michael Patryn, a convicted identity thief turned cryptocurrency entrepreneur, admitted in October to owning the jewelry, watches, CA$250,000 in cash and 45 gold bars that Canadian authorities seized from him in June 2021. But the valuables, which the Royal Canadian Mounted Police, or RCMP, removed from his safety deposit box at the Canadian Imperial Bank of Commerce in Vancouver along with a Ruger .45-caliber handgun, were obtained lawfully, Patryn argued, not bought with funds bilked from clients of his now-defunct cryptocurrency exchange Quadriga CX as the agency alleges. Patryn may soon...

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