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Second charged following investigations into alleged money laundering syndicate

Friday, 31 December 2021 04:06:04 AM

Organised Crime Squad detectives have charged a second man as part of ongoing investigations into money laundering and other illicit activities by an alleged 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 driver was released pending further inquiries.

Last month, officers arrested and charged a 34-year-old Pyrmont man. He remains before the courts.

Following further investigations, strike force detectives arrested a 35-year-old man at a hotel on Bligh Street, Sydney, about 4pm today (Thursday 30 December 2021).

In a subsequent search of the man’s belongings, police seized $50,000 cash located inside luggage.

He was taken to Day Street Police Station and charged with knowingly deal with proceeds of crime intent to conceal and use false document to influence exercise of public duty.

He was refused bail and is due to appear at Parramatta Local Court today (Friday 31 December 2021).

Investigations under Strike Force City are continuing.