Jean Nassif: Toplace developer allegedly laundered millions in ‘dirty cash’ through The Star Casino

Wanted man Jean Nassif allegedly turned over an eye-watering $78 million by laundering ‘dirty cash’ through The Star Casino in Sydney in a decade-long operation, according to NSW Police.

Disgraced property developer and international fugitive Jean Nassif allegedly laundered tens of millions of dollars in “dirty cash” through The Star Casino in Sydney – generating a “turnover” in excess of $78 million to fund major property deals.

The Saturday Telegraph can reveal the embattled Toplace developer, who has an outstanding warrant out for his arrest over fraud offences, is at the centre of a separate three-year-long investigation by NSW Police over allegations he “cleaned proceeds of crime by gambling cash as a high-roller” at the Sydney casino.

A NSW Police source said Nassif treated the alleged long-running operation “like its own business venture”, while allegedly laundering cash through The Star between 2009 and 2021.

“At the height of the alleged operation, and before police intervened, Nassif is accused of pumping $9.5 million in dirty through the casino between January and March 2021,” the police source said.

“He was one of their high rollers, a diamond-status member of The Star.

“They knew he was a property developer, so they didn’t bat an eyelid over the amount of cash being thrown around until officers started asking questions.”

Wanted man Jean Nassif leaving Burwood Local Court. Picture: Liam Mendes / The Australian

NSW Police investigators are understood to be probing allegations that Nassif was gambling proceeds of crime – allegedly obtained through connections with criminal enterprises – through the star “to fund further development of his crumbling property empire across Sydney”.

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“Investigators will allege he used these dirty funds to bankroll major property deals,” the source said. “While he turned over $78 million through his gambling at The Star, he didn’t come out unscathed.

“Nassif lost an estimated $5 million throughout this period, so it wasn’t without risk.”

It is understood forensic analysis by NSW Police confirmed Nassif made significant losses through his alleged dealings at the casino.

The Star Casino building in Pyrmont. Picture: NCA NewsWire / Damian Shaw

It was only when police enforced a casino exclusion order against the property developer in 2021 that his alleged 11-year scheme came to an end.

A spokeswoman said NSW Police was aware that Mr Nassif “gambled extensively at the casino over at least an 11-year period”.

“The NSW Police Force currently have arrest warrants for Mr Nassif for fraud related offences,” she said. “Investigations into Mr Nassif are ongoing”.

Toplace property developer Jean Nassif.

The allegations against Mr Nassif come just days after the state’s Independent Casino Commission announced a second inquiry into The Star in an effort to determine Star Entertainment’s suitability to hold a casino licence.

On February 19, chief commissioner Philip Crawford reappointed Sydney barrister Adam Bell to oversee the inquiry following his 2022 review highlighting the need for “deep structural change” at the Sydney casino.

“There was a substantial shift required and The Star has had 18 months to demonstrate that it has the capability and resources to regain its casino licence,” Mr Crawford said last week.

“When the manager was extended for the second time in December last year, the NICC was not satisfied The Star was progressing its remediation in a timely fashion.”

A report will be handed down by Mr Bell on May 31, following a series of public hearings.

When asked about the NSW Police investigation Star Entertainment representatives declined to comment.