Seven people have been charged as part of a police bust on an alleged international money laundering and drug supply scheme.
Create a free account to read this article
$0/
(min cost $0)
or signup to continue reading
A police crime squad initially alleged a 37-year-old man in Vietnam was running a money laundering syndicate in NSW.
The scheme allegedly converted large amounts of cash to cryptocurrency on behalf of organised crime groups involved in drug supply.
NSW Police, the Australian Federal Police, Australian Criminal Intelligence Commission and NSW Crime Commission have been working to crack the rest of the operation since 2022.
In early morning raids across Sydney on Friday, officers executed six search warrants in Umina Beach, Double Bay, Lane Cove, Parramatta and Bankstown.
Police found and seized about $50,000 in cash, a money counter, cryptocurrency wallets, electronics, a small amount of drugs and other documents.
Police arrested a 64-year-old woman in Lane Cove who was later charged with eight offences, including seven counts of knowingly dealing with proceeds of crime and participating in a criminal group.
Officers allege the woman co-ordinated the money laundering syndicate in NSW on behalf of the man in Vietnam.
Detectives also arrested a 52-year-old man in Parramatta who was charged with 10 offences, including nine counts of knowingly dealing with the proceeds of crime.
Both were refused bail and will appear before Parramatta Local Court on Saturday.
Officers also arrested and charged two men in Double Bay, and another in Bankstown who allegedly tried to flee police.
Police alleged these men assisted in transporting and laundering money on behalf of the international syndicate.
A separate police operation also investigated a large-scale drug operation being run on the Central Coast, with drug money allegedly being laundered through the offshore syndicate.
A 26-year-old woman arrested in Umina Beach was charged with seven offences including four counts of knowingly dealing with the proceeds of crime and two counts of supplying a prohibited drug.
She was refused bail and will appear in Newcastle Local Court on Saturday.
A 27-year-old woman was also arrested and charged with supplying a prohibited drug, possessing a prohibited drug and breach of bail.
She was refused bail and appeared before Gosford Local Court on Friday.
Australian Associated Press
