Police seize over $10m in assets from Canberra money launderer

The ACT man was charged on Thursday with one count of trafficking in property using the proceeds of crime after eight ACT homes, four luxury cars and millions of dollars in cash and coins were seized cryptocurrency.

Police said the combined cars were worth more than $800,000 and the man had 28 bank accounts and about $600,000 in cryptocurrency.

A 35-year-old man has been charged with one count of receiving property reasonably suspected to be proceeds of crime in the amount of $100,000 or more. (AFP)

AFP will allege that he used “sophisticated” transactions to launder money and cryptocurrency from the sale of stolen personal identities, illegal goods, scams and gambling in illegal line.

The man faces a maximum sentence of three years in prison and has been released on bail to appear in court.

Acting AFP Commander Scott Raven said money laundering posed a threat to Australia’s economy and national security.

Police have seized more than $1.5million in cash hidden in a Canberra home.
Police have seized more than $1.5million in cash hidden in a Canberra home. (AFP)
The man was released on bail and is due to appear in court later.
The man was released on bail and is due to appear in court later. (AFP)

“Money laundering is also widely used to fund other criminal activities that impact the safety of our community,” he said.

“AFP has a unique ability to disrupt groups suspected of criminal activity where it hurts them the most; by seizing their profits and preventing them from using those funds in future endeavors.”

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