Chinese money-laundering gang is BUSTED in Australia: Designer clothes, luxury jewellery and lavish properties worth over $150million seized
- Nine members of alleged syndicate arrested
- AFP raided 13 properties on Wednesday
- Properties and jewellery worth millions siezed
Nine people allegedly behind a massive Chinese-Australian money laundering operation have been arrested as police seize $150million in property, designer handbags and luxury jewellery.
The alleged head of the criminal syndicate, a 43-year-old man was taken away from his Vaucluse home in handcuffs, in Sydney‘s exclusive eastern suburbs, on Wednesday.
Eight others aged between 33 and 69, all in Sydney, were also arrested and charged with multiple money laundering and proceeds of crime offences.
The AFP alleges the syndicate ‘enabled multiple transnational serious and organised crime groups to launder funds derived from criminal activities’ between 2018 and 2022.
The group then used these profits to buy high-end jewellery, cars and accessories.
Nine people allegedly behind a massive Chinese-Australian money laundering operation have been arrested as police seize $150million in property, designer handbags and luxury jewellery
One of the alleged syndicate members is seen being arrested on Wednesday
‘It will be alleged the syndicate acted as an unregulated multi-national bank, able to draw on cash reserves held in multiple countries around the world to facilitate transactions for criminal clients,’ AFP said in a statement.
‘Criminal groups in Australia and offshore allegedly used its services to ensure their money appeared to be filtered through legitimate systems and their criminal activities hidden from law enforcement.’
The group allegedly obtained more than $150million in profits from the operation.
Police raided 13 properties across Sydney on Wednesday, seizing $29million in cryptocurrency, 18 designer watches, 17 designer handbags, 46 items of luxury jewellery and four licenced firearms that were unlawfully stored.
Police seized $150million in property, cash and luxury items during raids
Luxury jewellery has also been seized that allegedly belonged to the syndicate
The scheme was allegedly a global operation that had its headquarters in Sydney that facilitated the movement of illicit money.
The AFP-led taskforce have also obtained restraining orders relating to 20 properties in Sydney.
These include commercial buildings in the CBD and two high-value houses in Sydney’s eastern suburbs worth more than $19million combined.
Orders were also given relating to a 360hectare tract of land near Sydney’s western airport worth $47million, as well as for 66 bank accounts, cash, and more than $1million in luxury cars.
Eight members of the alleged syndicate will face court on Thursday.
The 43-year-old will appear at a later date.
More to come
Police arrested nine people on Wednesday allegedly involved in a major money laundering syndicate
Pictured is one of the luxury cars seized during raids
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