Australian Federal Police arrest seven people in Melbourne and seize $50 million worth of luxury cars and property as part of a long-running investigation into an alleged money-laundering syndicate it says was operating 'in plain sight'.
Australian Federal Police have arrested seven people in Melbourne and seized $50 million worth of luxury cars and property during raids on an alleged money-laundering syndicate it says was operating "in plain sight".
Police say they plan to charge the remaining six people arrested, and all seven are expected to appear in court on Thursday.Officers also seized multiple luxury cars including a $420,000 Mercedes-Mayback GLS and a Balywn North mansion valued at $10 million.Police allege the seven people formed a criminal gang it has dubbed the Long River money-laundering syndicate, which operates 12 Changjiang Currency Exchange retail outlets in most Australian capital cities.
He has been charged with two counts of recklessly engaging with the proceeds of crime and will appear in court on Thursday. The Changjiang syndicate, by contrast, allegedly operated within the regulated world of international money transfers — known as the remittance industry.
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