Grande Prairie real estate developer charged with money laundering

A Grande Prairie real estate developer has been charged with money laundering in connection with what's being called one of that city's biggest drug seizures.

The charges are related to a drug bust made last fall by an Alberta Law Enforcement Response Team.

During that investigation, police seized 1.8 kilograms of cocaine and nearly 2,000 fentanyl pills from a Grande Prairie home. The drugs had an estimated street value of nearly $250,000.

ALERT alleges that one of the men charged was part of a profitable drug trafficking network since early 2013.

Police say the home officers raided Oct. 23 last year was bought with drug trafficking profits. They also allege a local real estate developer assisted with a fraudulent home purchase and helped launder the drug money.

The home has been seized until a hearing determines whether it should be forfeited or returned.

The two men arrested in the case face charges of mortgage fraud, money laundering, and possession of the proceeds of crime.