Australian police arrest alleged organisers of $62 million cryptocurrency money-laundering scheme

Victoria Police has uncovered one of the country’s largest criminal syndicates, suspected of moving tens of millions of dollars to offshore entities. сообщает The Age.

The investigation began in October 2020. Prosecutors allege that over the past 12 months the group laundered no less than $62 million in cash, using dormant bank accounts of 250 Chinese students who had long since left Australia.

Authorities believe that some of the students’ accounts and identities were obtained by the perpetrators through the dark web.

The money mules then withdrew cash through ATMs located in Melbourne and exchanged it for cryptocurrencies.

Police noted that suspicious activity on the accounts of international students became more noticeable amid COVID-19 restrictions.

Five alleged members of the syndicate were arrested last Thursday, 14 October, during police raids.

Law enforcement searched nine properties, from which they seized more than $2 million in cash, illegal tobacco, jewelry, designer clothing and four cars – BMW X5, Toyota Landcruiser, Mercedes C200 Coupe and Porsche.

Three of those arrested have already appeared in court. They were charged with money laundering, structuring transactions and receiving criminal proceeds.

Two more detainees were released on bail and are awaiting a court hearing.

Earlier in August, Victoria Police, as part of an investigation into darknet drug trafficking, confiscated a record sum in cryptocurrency – about $6 million.

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