U.S. Treasury sanctions Canadian firms connected to Ryan Wedding

U.S. sanctions Canadian firms tied to Ryan Wedding
U.S. sanctions Canadian firms tied to Ryan Wedding
FILE — An image of former Canadian Olympic snowboarder Ryan Wedding, when he was a fugitive, is displayed on a video monitor along with bricks of cocaine, foreground, during a news conference at the FBI offices in Los Angeles, Oct. 17, 2024. (AP Photo/Damian Dovarganes, File)
Writer

The United States Treasury Department has slapped sanctions on eight Canadian businesses for allegedly helping to evade sanctions on Iran's government.

The department says it sanctioned money services businesses in British Columbia and Ontario in coordination with the Financial Transactions and Reports Analysis Centre, Canada's anti-money laundering watchdog.

The U.S. Treasury says several of the entities being sanctioned also worked with Ryan Wedding, the alleged drug kingpin and former Canadian Olympic snowboarder.

The department names several companies based in Ontario and British Columbia, including the Million Exchange, NIA Nations Currency, Farah Exchange, Darvish Exchange and several numbered companies.

The department alleges that Wedding used several of these services to launder millions of dollars in drug money through the transfer of digital assets before he was arrested in January.

Treasury Secretary Scott Bessent says in a news release that Canada "cannot be a safe haven" for sanctions evasion and financing the Iranian government.

This report by The Canadian Press was first published Nov. 6, 2026.

Copyright 2026, The Canadian Press. All rights reserved.

CanadaNews
  • The Canadian Press

    The Canadian Press is Canada's trusted news source and leader in providing real-time, bilingual multimedia stories across print, broadcast and digital platforms. From breaking regional, national and international stories to the biggest events in politics, business, entertainment and lifestyle, The Canadian Press is there when it matters, giving Canadians an authentic, unbiased source, driven by truth, accuracy and timeliness.

The most boring cities to live in Canada have been ranked (sorry in advance)

Buckle up, because your hometown might be on here. 👀

This picture-perfect town steps from 3 beaches is one of the best spots to live in Ontario

It's known as Canada's "prettiest" town.

7 hilariously Canadian habits that I've accidentally adopted as a newcomer

I now am someone who uses weather radar?? 🇨🇦

Casa Loma is transforming into a Christmas castle with Harry Potter decor and a cozy market

It's like stepping into a festive fairy tale.

Regulator looks to suspend Toronto bar's liquor licence after customer death

Toronto bar faces licence pause after patron death

9 high-paying University of Toronto jobs that offer up to $208,000 a year or $43 an hour

You can find jobs at the St. George and Scarborough campuses.

Health Canada approves Moderna's mRNA flu and flu-COVID combo vaccines

Health Canada approves Moderna's mRNA flu vaccine

Toronto has a hidden European-style Christmas market with glittery lights and festive treats

Don't leave without trying the hot chocolate.