Almost $500,000 in unreported US currency was seized at the Coutts border on Monday, and a Calgary man is now under arrest, the Canada Border Service Agency said Thursday.
Officers discovered the cache of $477,000 US ($586,233 Cdn) — the largest seizure yet in Alberta history — during an inspection of a vehicle and horse trailer on April 20, the CBSA said.
The cash was concealed in a false compartment, the CBSA said, between the trailer’s livestock area and living quarters.
A 33-year-old Calgary man was arrested and turned over to the RCMP. No charges have been laid as the RCMP is investigating.
According to the CBSA, there are no restrictions on the amount of money that can be brought into or taken out of Canada, however currency or other monetary instruments valued at $10,000 or more must be reported at the border. A failure to report can result in the money being seized.
The money was seized under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, according to the CBSA.
The Coutts border crossing, one of the busiest in Western Canada, is about 300 km south of Calgary.