Anwar Sha, Khaing Thazin charged with money laundering

A director of a Sydney gold trading company and a woman who allegedly laundered more than $22 million in cash through gold purchases have fronted court.

Lakemba’s Anwar Sha and Khaing Thazin have faced court after they were charged with allegedly laundering more than $22 million in cash through gold purchases.

Investigators launched Operation Avarus-Effectus in January after the Australian Federal Police identified anomalous cash deposits allegedly being made by Mr Sha, 41, and Ms Thazin, 35, into the bank accounts of companies registered as precious metal dealers.

Mr Sha is a registered precious metals dealer and director of a gold trading company.

Police allege that he failed to adhere to stringent reporting obligations on all gold sales by providing clients with anonymity when making significant cash purchases.

Investigators allege that since November 2020 the pair have deposited more than $22 million in cash into the accounts and also used funds from the accounts to buy gold.

In February this year, AFP officers executed several search warrants, including at the Lakemba home the man and woman share at Haldon St, and at a Burwood bank.

Officers seized about $86,000 cash and $148,000 worth of gold bullion of various sizes as well as business documents and cash deposit receipts.

Anwar Sha leaves Parramatta Local Court.

Khaing Thazin leaves Parramatta Local Court.

The man is charged with dealing with the suspected proceeds of crime greater than $10 million.

The maximum penalty for this offence is five years’ imprisonment.

The woman is charged with dealing with the proceeds of crime greater than $1 million.

The maximum penalty for this offence is four years’ imprisonment.

Australian Federal Police seized gold bullion.

The offences were allegedly carried out between March 2021 and February 23 this year.

At Parramatta Local Court on Wednesday, the pair appeared briefly.

They did not enter pleas.

The matter was adjourned to the same court on August 19 when they were excused from appearing.

Editor’s note: A previous version of this story incorrectly stated that Ms Thazin was charged with dealing with the suspected proceeds of crime greater than $10 million. Her actual charge is dealing with property reasonably suspected of being proceeds of crime, greater than $1 million.

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