Hugo Jacobs: Millionaire businessman suing cops in gun case
More details can be revealed about a Sydney businessman who was arrested over $7 million he had hidden in a secret underground bunker as he tried to board a flight for Dubai.
Inner West
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A millionaire businessman was prevented from boarding a flight and arrested at Sydney airport the day after NSW Police withdrew a firearms charge against him, it can be revealed.
Hugo Jacobs, 39, is currently taking the cops to court for costs in a case they withdrew just two months after charging him.
Police had alleged in April they had caught him with an unauthorised pistol but the case was thrown out last month, according to court records.
Jacobs is now attempting to convince a magistrate that police should foot his legal bill for the case.
Court documents state that case was dismissed on June 9, the day before police stopped Jacobs from boarding a flight to Dubai with his wife and kids at a Sydney airport terminal.
It is understood the arrest came after an Australian Border Force official was alerted to Jacobs when a warning flashed up on his screen while processing passengers.
Police have since revealed the multi-agency strike force that had apprehended him was set up a year ago to investigate an alleged criminal syndicate suspected of supplying drugs across the state.
As part of their probe police allege they uncovered $7 million in cash hidden under a trap door in a concrete bunker at Roselands belonging to Jacobs as well as raiding a home in Marrickville.
Vision of the Roselands raid shows the large wads of cash stashed inside reusable shopping bags inside the elaborate underground bunker.
Company records details that Jacobs, formerly known as Hachem Ibrahim, owns Silverfox Investments Co, which lists its address as being on Marrickville’s Robert St.
Police have alleged in court the businessman was directing and participating in the criminal syndicate at the centre of their probe since July 2020.
Jacobs has been charged by police with knowingly dealing with the proceeds of crime at Mascot police station after his airport arrest and was initially refused bail.
A magistrate will hear his argument for costs in the failed gun case in Burwood Local Court at a later date.
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