An Ontario resident, Joseph Butler, pleaded guilty in a Calgary court today to money laundering and failing to report the importation of over $10,000 into Canada. Butler attempted to enter Canada from the U.S. without disclosing that he was carrying US$477,050 in cash. The cash was concealed in at compartment in a horse trailer when it was discovered by the Canada Border Services Agency. The money was proceeds from drug trafficking. The Proceeds of Crime (Money Laundering) and Terrorist Financing Act requires that every person report to the CBSA when they import to Canada or export from Canada cash (or other monetary instrument) equal to or greater than $10,000. It is not illegal to import or export cash but amounts equal to or greater than $10,000 must be reported. The conviction today was the first money laundering conviction in Alberta under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.