Boliang Liu and Tao Zhou jailed over $63m money laundering scheme

The leader of a money laundering syndicate that moved millions of dollars overseas told cops almost $1m in cash found at his house was for a poker game.

Two Chinese nationals have been sentenced for their role in a sophisticated money laundering scheme that saw millions of Australian dollars converted to Chinese currency. Picture Generic

The men behind one of Australia’s largest ever money laundering operations have been jailed.

Boliang Liu and Tao Zhou washed $63m between them in just over a year, funnelling the cash from overseas though bank accounts before converting them into Chinese currency.

Liu on Wednesday appeared before Mildura County Court to be sentenced after earlier pleading guilty to four counts of dealing with money, totalling $33.6 million, suspected of being the proceeds of crime.

The 37-year-old was identified as the mastermind behind the operation, channelling the funds to Zhou, 41, who spent hours depositing the cash at Commonwealth Bank ATMs.

‘Money runner’ Tao Zhou spent hours feeding cash into Commonwealth Bank ATMs as part of a money laundering scheme. Picture: NCA NewsWire/ David Crosling

Prior to Wednesday’s sentencing hearing Zhou also pleaded guilty to four counts of dealing with money, totalling more than $30m, suspected of being the proceeds of crime.

The scheme unravelled in 2021 when Liu was approached by an undercover police officer who asked him to convert $100,000 to Bitcoin.

Liu said he was busy assisting a client with a large amount of cash and could not help.

However, Liu also told the operative he had the capability to handle up to $2m a week.

Court documents revealed Liu was also caught discussing his “business” with a family member, who questioned the origins of his wealth.

“We don’t ask where the money comes from; it’s not important,” Liu responded via text.

When police swooped on the pair in October 2021 they found $913,000 at Liu’s Burwood home and busted Zhou with $180,000 in his backpack.

Liu initially told police the cash at his house was for a poker game.

“People bring large amounts of cash to the house to play poker,” Liu told police.

Boliang Liu and Tao Zhou were sentenced at County Court in Mildura via video link

The raid also uncovered numerous credit cards, a Porsche, expensive watches, and two money-counting machines.

The arrests of the duo were described by authorities as the end of one of Australia’s largest ever money laundering operations.

Judge Michael Cahill sentenced Liu to five and a half years in prison, with a non-parole period of three and a half years.

Zhou received a three-and-a-half-year sentence, with a non-parole period of two years and three months.

Judge Cahill told the two men he was not sentencing as if they knew where the money came from.

“Here the sums you both dealt with are eye-watering,” he said.

“It appears you were suspicious as to the source of the funds but indifferent as to the provenance.”

He acknowledged the pair’s guilty pleas as an admission of remorse and noted they faced deportation once their sentences were served.