Australian authorities have charged four individuals for their alleged roles in a sophisticated Queensland-based money laundering network accused of moving $123 million in illicit cash into cryptocurrency.
The charges come after an 18-month investigation led by the Australian Federal Police (AFP) through the Criminal Assets Confiscation Taskforce (CACT), in collaboration with Queensland Police, Australian Border Force, AUSTRAC, the Australian Criminal Intelligence Commission, and the Australian Taxation Office.
Money Laundering Organisation Dismantled
According to the official press release of the Australian Taxation Office, the multi-agency probe culminated last week in 14 search warrants executed across Brisbane and the Gold Coast, targeting a scheme alleged to have funneled criminal proceeds through a complex web of businesses, bank accounts, and crypto exchanges.
At the centre of the case is a Gold Coast-based security company, whose director, a 48-year-old Maudsland man, and general manager, a 35-year-old woman, have been charged with dealing with the proceeds of crime worth almost $6.5 million.
The business allegedly blended legitimate cash transport operations with illicit funds sourced from organised crime groups, which were collected from secret dead-drop locations nationwide and flown into Queensland disguised as domestic cargo.
The laundered money was then allegedly transferred into crypto assets or paid out via shell companies, including a promotions business and a classic car dealership.
Crypto Wallets, Luxury Assets, Forged Documents Seized
A 32-year-old Brisbane man from Heathwood, said to be a major client of the operation, is accused of laundering $6.167 million over 15 months and was charged with multiple offences, including failing to provide access to a secured mobile phone. Authorities allege he controlled the promotions company used to obscure the movement of funds while naming his wife as a straw director.
Another Brisbane man, 58, from West End, allegedly received $4.15 million through a classic car business and routed it into the network using multiple bank accounts to conceal the source of the money. He faces four charges, including money laundering, uttering a forged document, and dealing with identification information for an indictable offence.
In total, authorities have restrained about millions in assets suspected of being criminal proceeds, including 17 properties, vehicles, and bank accounts across Queensland and New South Wales. During the raids, investigators seized encrypted devices, business records, $30,000 in cash, and crypto wallets containing approximately $110,370 in digital assets.
In a statement, AFP Detective Superintendent Adrian Telfer said,
“We allege this organisation intentionally concealed and disguised the source, value and nature of their illicit money, and distanced themselves from the funds to try to avoid getting caught by authorities. This plot was elaborate and calculated, and it demonstrates the lengths criminals will go to make money.”
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