Sloggett faces a number of money laundering and drugs charges

The case of a Townsville businessman accused of using cryptocurrency to launder upwards of $2 million is so “large” and “complex” that an extra four more months has been granted for police to compile the brief of evidence.

THE case of a Townsville businessman accused of using cryptocurrency to launder upwards of $2 million is so “large” and “complex” that an extra four more months has been granted for police to compile the brief of evidence.

Michael James Sloggett, 37, was not present in court for the mention of his matter in Townsville Magistrates Court on Tuesday when the prosecution requested a “lengthy” adjournment to the next Commonwealth callover date.

Sloggett was charged back in April, with Commonwealth prosecutor Sam Lanskey telling the court there were still a “significant amount of matters outstanding”.

Mr Lanskey said in order to allow for the brief of evidence in the “complex financial matter” to be put together, a “lengthy” adjournment would be needed.

Michael Sloggett is alleged to have laundered more than $2 million

In addition to the five money laundering charges which include dealing in the proceeds of crime etc money or property worth $1 million or more, Sloggett also faces eight supplying dangerous drugs and two possessing dangerous drugs charges, as well as count of unlawful possession of controlled drugs.

Police allege the former supplement salesman laundered $2.5 million that was the proceeds of crime, and that he deposited more than $170,000 through almost 100 ATM transactions at the Willows Shopping Centre in a way that avoided reporting conditions related to threshold transactions.

Officers raided Sloggett’s Townsville business address and Garbutt home on April 13, where Major Organised Crime Squad detectives seized $160,000 worth of cryptocurrency and eight vials of steroids.

Michael James Sloggett, 37, leaving Townsville court after a previous mention.

Police prosecutor Nathan Smith said a brief of evidence was also being prepared for the drug charges, and that they were “forensically linked” to the laundering charges.

Magistrate Richard Lehmann told Mr Lanskey that if a brief had not been delivered before March 7, 2022, the court would need a “detailed list” of what was outstanding, and what was causing the delay.

Sloggett’s lawyer, Andrew Peel of Purcell Taylor Lawyers, said the matter was “large” and agreed to the adjournment.

Sloggett’s bail was enlarged, and his appearance will not be required for the committal mention of his matter in early March next year.

Originally published as Sloggett faces a number of money laundering and drugs charges