Three arrested over alleged $100m money laundering syndicate
Three people have been charged following investigations into an alleged $100 million money-laundering syndicate operating in south west Sydney. The arrests come on the back of a major police investigation into large-scale drug supply and related organised crime offences, where three other men were arrested earlier this year.
Three people have been charged following investigations into an alleged $100 million money-laundering syndicate operating in south west Sydney.
In February last year, detectives set up Strike Force Tippet to investigate the supply of prohibited drugs and related organised crime offences in southwest Sydney.
Three men were arrested and charged in March this year after police executed search warrants at units in Peakhurst and Belmore, seizing 1kg of methamphetamine, 600g of cocaine, 1L of GBL, three vehicles, designer clothing and $360,000 cash.
These men, all aged 22, were charged at the time and are now before the courts.
Investigations continued and police yesterday arrested two men and a women after identifying links to an alleged money laundering syndicate.
Two men, aged 29 and 30, were arrested at a business in Guildford West about 9am and then a woman, 30, was arrested at a home in Merrylands West.
The 30-year-old man is the alleged syndicate’s director and in a relationship with the woman.
Three search warrants were executed for the Merrylands West home, the Guildford West business and a second business in Sydney’s CBD.
During the searches, police seized a money counting machine, $400,000 cash, $10,000 of gold bullion electronic devices, a Ford Mustang and designer jewellery.
Investigators also seized financial documentation, which will be examined by forensic accountants.
Criminal Groups Squad Detective Chief Inspector Nick Read said the Guildford West arrest was at a semi-legitimate security business.
He said the money was allegedly laundered over four years and more arrests were due to be made, adding the investigation was beyond NSW.
“The search warrants are continuing and at this stage we have seized $400,000 in cash, a number of money counting machines, a small amount of drugs and other electronic devices. This has been a very complex and long investigation and we do expect to make further arrests in the future.”
Insp Read said the people arrested yesterday did not work with those charged in March.
The 30-year-old man was charged with knowingly deal with proceeds of crime intent to conceal (not less than $100 Million AUD) and knowingly direct activities of criminal group.
The 29-year-old man was charged with knowingly deal with proceeds of crime intent to conceal (not less than $100 Million AUD) and participate criminal group contribute criminal activity.
The 30-year-old woman was charged with knowingly deal with proceeds of crime intent to conceal (not less than $100 Million AUD) and participate criminal group contribute criminal activity.
Police will allege in court that the group has been operating since 2016 and laundered in excess of $100 million.
They have all been refused bail, with the men to appear at Parramatta Local Court, and the woman to appear at Fairfield Local Court later today.
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