Man charged after allegedly laundering $15 million

A MAN has faced court over money laundering with police alleging he dealt with a total of $14,949,770 at locations in Punchbowl and Campsie since June.

A 42-year-old man is yet to enter a plea over 16 counts of money laundering. Picture: Scott Radford-Chisholm

A MAN has been charged with money laundering after police stopped his vehicle in Punchbowl last Thursday and found a box containing $200,000.

Cong Nguyen, 42, appeared at Burwood Local Court on Friday when the case was adjourned until May 17. He has yet to enter a plea and bail was refused.

Police allege Mr Nguyen dealt with a total of $14,949,770 at locations in Punchbowl and Campsie between June 9, 2016 and his arrest, knowing the money was the proceeds of crime.

Mr Nguyen was charged with 16 counts of money laundering following an investigation by the NSW Police Force and the NSW Crime Commission into the importation and supply of prohibited drugs and money laundering throughout Sydney.

Cong Nguyen will return to Burwood Courthouse in May.

Police said that as part of the investigation they stopped a vehicle in Punchbowl Rd about 4.30pm on Thursday. After searching the car, officers allegedly found a box with $200,000 cash inside.

Police executed a search warrant at a home unit in Beamish St, Campsie, where they allegedly found a further $145,000 in cash as well as mobile phones, laptops, electronic tablets and passports.

In an unrelated matter, three men were also arrested last week following a joint investigation between the NSW Police Force Organised Crime Squad and the Australian Criminal Intelligence Commission (ACIC) into internationally-based money laundering syndicates operating in Sydney.

Among those arrested was a 70-year-old man at an East Hills home, one of five properties across Sydney raided as part of the investigation.

During those raids police allegedly located and seized nine firearms, a bulletproof vest, cocaine, MDMA powder and pills, methylamphetamine, a cocaine block press, two old hydroponic cannabis setups, steroids, mobile phones, laptops, electronic storage devices and documentation.

They also allegedly seized three booby traps which were located in a safe at one of the homes and a Dodge 4WD and a Nissan Navara for forensic examination.

Cong Nguyen was stopped by police in Punchbowl Rd, Punchbowl. Picture: Google Maps

The 70-year-old was charged with possession of a prohibited drug and will appear at Bankstown Local Court on April 12.

That investigation, carried out by Strike Force Bugam, had also been operating since June 2016. Organised Crime Squad Commander Detective Acting Superintendent Wayne Walpole said the strike force was expecting to make more arrests.

“Investigators have dismantled unrelated groups allegedly dealing in different aspects of business, who have been working together to profit through organised crime,” he said.

“The joint investigation is continuing and further arrests are expected. I would encourage those who are expecting us to come forward before we come to you.”

Police say Cong Nguyen was found with $200,000 in cash.

ACIC NSW state manager Warren Gray, commenting on the Strike Force Bugam operation, said investigators were forced to keep up with the constantly changing ways organised crime was operating.

“Serious and organised crime is growing in sophistication and constantly adopting new and advanced technologies to undertake illegal activities,” he said.

“Investigations like (this one) affirm the effectiveness of following the money as a way of unearthing organised criminal activity, and collaborative work of law enforcement agencies is highly commendable.”