In summary
- The Australian police have dismantled a Queensland money laundering ring of $ 123 million that allegedly channeled illegal cryptography.
- Brisbane and Gold Coast’s raids discovered $ 170,000 in cryptography, physical effective, luxury properties and encrypted devices.
- The working group of the AFP assets restricted more than $ 110 million in the last year, with cryptography playing a key role in multiple cases.
Australian police have accused four for their alleged participation in a money laundering network based in Queensland that is accused of transferring $ 123 million in illicit cash to cryptography.
From June 5 to 6, the Criminal Assets Confiscation Task Group of the Australian Federal Police (AFP) led by the Queensland Organized Crime Task Group (Qjoctf) and other agencies, executed 14 raids directed through Brisbane and the gold coast after a federal investigation of 18 months, according to a statement from Monday of the Australian tax office.
The researchers discovered the estimated cryptography of $ 110,370, together with $ 30,000 in physical cash, encryption devices, commercial documents, vehicles, properties and bank accounts.
The authorities claim that the scheme channeled drug money and criminal revenues through a Gold Coast security company that offered armored transport services, then washed the funds using Shell businesses, classic car sales and cryptography exchanges.
The company is accused of converting massive physical cash volumes into cryptography to obscure its origins.
“We alleged this organization hidden and intentionally disguise the source, value and nature of its illicit money, and distanced itself from the funds to try to prevent the authorities from caught,” said the superintendent detective of the AFP, Adrian Telfer in a Monday statement.
A 32 -year -old man from Heathwood in Brisbane, accused of washing the $ 6.16 million for 15 months, has been arrested in custody and appears in the court today.
The authorities claim that he used a sales promotion company, registered in the name of his wife as a “straw director”, to receive funds from the security company.
The director of the company and the general manager, both from Maudsland, received the bond after being accused of dealing with the income of general crimes worth more than $ 6.4 million.
A 58 -year -old West End man, linked to a classic car dealership accused of washing $ 4.1 million, also faces multiple money laundering positions.
Crypto and money laundering
The case shows how Crypto is increasingly used to hide illicit funds, and Australian authorities warn that it is a favored tool for organized crime.
Cact has restricted more than $ 110 million in assets in the last year, much of them related to cryptography, which raises total seizures since 2019 to $ 1.2 billion.
In July 2024, the AFP -led cacti restricted $ 333,779 in cryptography as part of an asset seizure of $ 10.1 million in the case of money laundering of Gold Coast.
Restricted assets also included seven properties worth $ 8.4 million, $ 1.12 million in cash and more than $ 76,000 in multiple bank accounts.
Last month, a man from Queensland lost a portfolio of $ 2.9 million, including a mansion in front of the sea and almost 25 BTC, after Austrac, the Australian financial intelligence agency, marked suspicious activities linked to a 2013 crypto robbery.
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