Jeweller accused of managing cocaine empire’s finances seeks bail

A Toronto jeweller accused of laundering money for an international drug smuggling operation has appeared in court to seek bail before an extradition hearing.

In November, news emerged of a former professional snowboarder who became the leader of a ruthless international cocaine cartel. The Federal Bureau of Investigation (FBI) announced a series of arrests in association with a cocaine empire allegedly spearheaded by Ryan Wedding, a professional snowboarder who represented Canada at the Winter Olympics in Utah in 2002.

Investigators also charged a 37-year-old Toronto jewellery store owner, alleging he laundered drug proceeds and acquired luxury items for Wedding. Rolan Sokolovski was accused of organising the ‘bookkeeping’ for the criminal enterprise and used his jewellery store in Toronto to launder money.

“A federal Crown lawyer has told an Ontario court that Rolan Sokolovski acted as the 'third in command' in fugitive Ryan Wedding's alleged transnational criminal enterprise,” a report from CBC details.

“It's the first time Sokolovski, a Toronto jeweller arrested in November, is identified as such a high-ranking member of the drug-trafficking network.

“Sokolovski's lawyers argued in a Toronto courtroom Wednesday that he wouldn't pose a flight risk if released on bail. He faces extradition to California on federal conspiracy charges related to money laundering and cocaine trafficking.

“US prosecutors have previously accused Sokolovski of being a primary money launderer and ‘de facto bank’ for Wedding's alleged drug-trafficking organisation, which is said to have generated $USD1 billion in annual revenues.”

US authorities allege Sokolovski transferred millions of dollars in drug money using cryptocurrency. Prosecutors opposed Sokolovski’s release, arguing he should remain in custody to protect the public, maintain confidence in the justice system, and reduce flight risk. A decision is expected before the end of February.