AFP smash alleged Chinese-Australian money laundering operation in Sydney
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Chinese Money Laundering Gang CAUGHT in Australia: Designer Clothes, Luxury Jewelery and Luxury Properties Seized Over $150 Million
- Nine members of alleged union arrested
- AFP raided 13 properties this Wednesday
- Millionaire properties and jewelry seized
Nine people allegedly behind a massive China-Australia money laundering operation have been arrested as police seize $150 million worth of property, designer handbags and luxury jewellery.
The alleged head of the crime syndicate, a 43-year-old man, was led in handcuffs from his home in Vaucluse, in Sydney’s exclusive eastern suburbs, on Wednesday.
Eight other people between the ages of 33 and 69, all in Sydney, were also arrested and charged with multiple offenses of laundering money and proceeds of crime.
The AFP alleges that the syndicate “allowed multiple transnational serious and organized crime groups to launder funds derived from criminal activities” between 2018 and 2022.
The group then used these proceeds to purchase high-end jewelry, cars, and accessories.
Nine people allegedly behind a massive China-Australia money laundering operation have been arrested as police seize $150 million worth of property, designer handbags and luxury jewellery.
One of the suspected union members is seen being arrested on Wednesday.
“It will be alleged that the syndicate acted as an unregulated multinational bank, capable of drawing on cash reserves in various countries around the world to facilitate transactions for criminal clients,” AFP said in a statement.
“Criminal groups in Australia and abroad allegedly used their services to ensure that their money appeared to be leaking through legitimate systems and their criminal activities hidden from law enforcement.”
The group reportedly made more than $150 million in profits from the operation.
Police raided 13 properties in Sydney on Wednesday, seizing $29 million worth of cryptocurrency, 18 designer watches, 17 designer handbags, 46 luxury jewelery items and four licensed firearms that were stored illegally.
Police seized $150 million worth of property, cash and luxury items during raids
Luxury jewelry that allegedly belonged to the union has also been seized.
The scheme was allegedly a global operation headquartered in Sydney that facilitated the movement of illicit money.
The AFP-led task force also obtained restraining orders relating to 20 properties in Sydney.
These include commercial buildings in the CBD and two high-value homes in Sydney’s eastern suburbs worth a combined value of more than $19 million.
Orders were also given relating to a 360-hectare piece of land near Sydney’s Western Airport worth $47 million, as well as for 66 bank accounts, cash and over $1 million worth of luxury cars.
Eight members of the alleged union will face court on Thursday.
The 43-year-old will appear at a later date.
more to come
Police on Wednesday arrested nine people allegedly involved in a major money laundering syndicate.
In the image, one of the luxury cars seized during the raids.