Australia Charges Four Over $123M Crypto Money Laundering Ring

Australian police have accused four of her alleged interference with money laundering networks based in Queensland, who has been accused of moving $ 123 million in cryptocurrencies in cryptocurrencies.

On June 5 to June 6, Australian Federal Police (AFP)-Working Working Group for Criminal Property (CACT), together with a working group of joint crime in Queensland (QJOCTF) and other agencies, executed 14 targeted works in Brisbane and Gold Coast after 18-monthly federal research statement from the Australian Office for Taxation.

Investigators discovered crypto It is estimated at $ 110,370, along with $ 30,000 in physical money, encrypted devices, business documents, vehicles, real estate and bank accounts.

Authorities say the scheme has taken over drugs and criminal income through the Gold Coast protection company that offered armored transport services and then washed funds using Shell companies, classic car sales and cryptocurrencies.

The company is accused of turning huge amounts of physical money into a cryptocurrency to stack its origin.

“We state that this organization deliberately hid and disguised the source, value and nature of their unlawful money and distance themselves from funds to try to avoid being caught by the authorities,” AFP Detective Adrian Telfer said in a statement on Monday.

A 32-year-old Heathwood man in Brisbane, charged with washing $ 6.16 million over 15 months, returned in custody and appears in court today.

Authorities claim that he used a sales promotion company, registered on behalf of his wife as “straw director” to receive funds from a security company.

The director of the company and the CEO, both of the Maudsland, received bail after being charged with resolving income from general crime worth more than $ 6.4 million.

The 58-year-old man West End, associated with a classic car dealer accused of washing $ 4.1 million, also faces multiple money washing costs.

Cryptocurrency and money laundering

The case shows that the crypts are increasingly used to hide illegal means, and the Australian authorities warn that it is a favored tool for organized crime.

Kact restored more than $ 110 million in property last year, much of a cryptocurrency, Adoption of total seizures from 2019 to $ 1.2 billion.

In July 2024, cactus led by AFP restrained $ 333,779 in cryptocurrencies As part of the attached property of $ 10.1 million in the event of a Gold Coast money washing.

The restrained assets also included seven real estate worth $ 8.4 million, $ 1.12 million in cash and over $ 76,000 on multiple bank accounts.

Last month, Queensland man seized a portfolio of $ 2.9 millionIncluding the mansion along the coast and nearly 25 BTC, after Australia, the Australian Financial Intelligence Agency marked suspicious activities related to the 2013 crypto.