Australian Federal Police have seized greater than $1.5 million in money and $600,000 in cryptocurrency as a part of an investigation into cash laundering.
Eight properties and 4 luxurious autos have been seized by police as a part of a $10 million haul following a cash laundering investigation.
Australian Federal Police searched two Canberra houses and a storage unit on Thursday and seized greater than $1.5 million in money in addition to paperwork and digital gadgets.
Police allege 4 automobiles value greater than $800,000, 28 financial institution accounts and about $600,000 in cryptocurrency are suspected of being the proceeds of crime.
A 35-year-old man was charged with dealing in properties moderately suspected to be proceeds of crime, and faces three years in jail.
Get Crikey FREE to your inbox each weekday morning with the Crikey Worm.
Police will allege the person laundered money and cryptocurrency from the sale of stolen identities and unlawful items, in addition to cash from fraudulent scams and unlawful on-line playing.
The person is on bail and can face court docket at a later date.
Operation Nairana started in late 2020 when the FBI and US Inner Income Service tipped off authorities that an Australian-based individual was utilizing cryptocurrency to launder cash.
Laundered funds are closely used to fund additional felony actions, AFP Performing Commander Scott Raven mentioned.
“The AFP has a singular skill to disrupt teams suspected of felony exercise the place it hurts them essentially the most; seizing their income and stopping them from utilizing these funds in future ventures,” Performing Commander Raven mentioned.
He mentioned the AFP can be “relentless” in pursuing these concerned in world cash laundering.