Sydney man arrested after allegedly trying to launder $5million in BITCOIN 

Posted on

‘Money launderer for hire’ who allegedly converted $5million into BITCOIN is arrested when police ‘find $1million in suspicious cash in his car’

  • Man accused of running criminal syndicate arrested after Sydney police stop
  • Police allege they found $1million in cash across two bags in 30-year-old’s car 
  • Search of Wentworth Point home allegedly found more than a kilogram of meth
  • Alleged man had told his syndicate to launder $5,479,300 in cash into bitcoin

A man accused of running a criminal syndicate that laundered money through bitcoin has been arrested after police allegedly found $1million in cash inside his car.

Cybercrime detectives investigating an alleged criminal money laundering syndicate pulled over the 30-year-old in Strathfield in Sydney’s inner-west on Monday morning.

Detectives allegedly discovered two bags containing $1million in cash during the vehicle stop about 5.30am.

Police will allege the man had directed a syndicate to launder a total of $5,479,300 by converting cash into bitcoin on his behalf.

A 30-year-old man accused of running a cryptocurrency money laundering syndicate has been arrested in Sydney's inner-west after police allegedly found $1million in cash in his car

A 30-year-old man accused of running a cryptocurrency money laundering syndicate has been arrested in Sydney’s inner-west after police allegedly found $1million in cash in his car

Two bags containing $1million in cash were allegedly found during the vehicle stop about 5.30am

Two bags containing $1million in cash were allegedly found during the vehicle stop about 5.30am

Cocaine and mobile phones were found during a further search of a home at Wentworth Point

The man has been charged with a series of offences including dealing with the proceeds of crime

Cocaine and mobile phones were found during a further search of a home at Wentworth Point

A further search of a home at Wentworth Point found more than a kilogram of meth, cocaine and mobile phones.

A laptop, electronic storage devices and cash were also seized by police.

The man was taken to Auburn Police Station and charged with 24 offences including dealing with the proceeds of crime, directing the activities of a criminal group and helping supply prohibited drugs of a large commercial quantity.

NSW Police cybercrime squad commander Detective Superintendent Matt Craft alleged the group was operating as a money launderer for hire.

The arrest pictured on Monday. Police allege the group was operating as a money launderer for hire

The arrest pictured on Monday. Police allege the group was operating as a money launderer for hire

Police will allege the man had told a syndicate to launder a total of $5,479,300 by converting cash into bitcoin on his behalf

Police will allege the man had told a syndicate to launder a total of $5,479,300 by converting cash into bitcoin on his behalf

Arrest pictured. Police anticipate making further arrests related to Strike Force Curns in the next four weeks

Arrest pictured. Police anticipate making further arrests related to Strike Force Curns in the next four weeks

‘This is the first phase of arrests and it is anticipated further arrests will be made over the next four weeks as the evidence gathered is collated and assessed,’ he said.

‘The message is clear, the fact you deal in cryptocurrency does not place you beyond the reach of the NSW Police Force.’

The man was refused bail to appear at Central Local Court on April 19.

Investigations under Strike Force Curns are continuing. 

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *