Charges laid following investigations into alleged money laundering syndicate - Organised Crime Squad

Wednesday, 22 December 2021 02:01:21 PM

Organised Crime Squad detectives have charged a man after seizing cocaine and cash, as part of ongoing investigations into money laundering and other illicit activities by a criminal syndicate operating in Sydney’s CBD.

In July this year, detectives from the State Crime Command’s Organised Crime Squad established Strike Force City to investigate the activities of an alleged criminal syndicate involved in laundering large amounts of cash through several businesses located in the Sydney CBD.

Their inquiries uncovered a syndicate allegedly using cash to fund the purchase of investment properties and operating costs of other associated businesses.

During the investigation, police stopped and searched a black Toyota Camry on Bridge Street, Sydney, just before 5.30pm on Tuesday 24 August 2021.

The 35-year-old male driver – who is subject to Firearms Prohibition Order (FPO) – was spoken to by officers, before a bag containing $150,000 cash was seized from the vehicle.

The man was released pending further inquiries.

Following extensive investigations, strike force detectives executed three search warrants at Pyrmont, Barangaroo, and Sydney CBD from 6am today (Wednesday 22 December 2021).

During the searches, officers seized cocaine, cannabis, electronic devices, documentation, and more than $13,000 cash.

All items will undergo further forensic examination.

A 34-year-old Pyrmont man was arrested and taken to The Rocks Police Station, where he was charged with knowingly deal with the proceeds of crime with intent to conceal.

He was refused bail to appear at Central Local Court later today.

Investigations under Strike Force City are continuing.

Anyone with information that may assist investigators is urged to contact Crime Stoppers: 1800 333 000 or https://nsw.crimestoppers.com.au. Information is treated in strict confidence. The public is reminded not to report information via NSW Police social media pages.