OTTAWA, Ontario (LifeSiteNews) – Canadian bank executives have disclosed that millions of dollars were indeed withdrawn from credit unions shortly after the government of Prime Minister Justin Trudeau authorized the freezing of bank accounts linked to the trucker Freedom Convoy.
According to Blacklock’s Reporter, Martha Durdin, CEO of the Canadian Credit Union Association, told the House of Commons finance committee in early March that “in the early days, there was some degree of panic among some Canadians that their accounts may be frozen.”
Durdin noted that many of their “members expressed this concern, and many Canadians made significant withdrawals from credit unions as a result.”
“Sometimes in the hundreds of thousands, and on a few occasions in the millions of dollars,” added Durdin.
Durdin noted that many Canadians felt surprised “the government had that authority (to freeze people’s bank accounts),” but noted that the withdrawals did not “raise liquidity issues at all for credit unions.”
“Staff had to manage many very unhappy members,” added Durdin, noting credit unions had to answer many questions “under what circumstances the government can freeze accounts.”
“Many Canadians felt surprised,” she said.
The general counsel for the Canadian Bankers Association Angelina Mason told the finance committee on March 7, as reported by Blacklock’s Reporter, that there were some “anecdotal stories” of some sudden withdrawals, but they were not of “significance.”
Trudeau claimed the Freedom Convoy protesters were funded by foreign entities with ties to terrorist-linked financing. This reasoning was used as justification for Trudeau to enact the Emergencies Act (EA) against them on February 14. It was revoked on February 23.
His use of the EA gave the federal government unparalleled powers, such as the ability to freeze bank accounts, even without a court order. Many accounts were frozen; however, they were done so under the orders of police who then contacted banks.
According to the Department of Finance, some 206 to 210 bank accounts were frozen, with a total combined value of $7.8 million, from a police blacklist of 257 accounts.
A top official with Canada’s Royal Canadian Mounted Police (RCMP) recently said there is no evidence of any links to terrorist activity in the funding of the trucker Freedom Convoy.
The Freedom Convoy for three weeks in late January to early February protested in the nation’s capital of Ottawa, demanding an end to all COVID mandates, before being forced out by police armed with extraordinary powers given to them by the EA.
The Justice Centre for Constitutional Freedoms (JCCF) is currently suing the Canadian federal government under Prime Minister Justin Trudeau for its abuse of the EA, which was used to quash the Freedom Convoy.