Investigators say alleged syndicate members were "living the high life" with $10,000-dollar sake and private jets.
Investigators have painted a picture of an alleged criminal syndicate "living the high life" after federal police dismantled an alleged $229 million money laundering operation they claim was masquerading as a prominent, multi-billion-dollar money exchange chain in Australia.
Four Chinese nationals and three Australian citizens have been charged for their alleged involvement in the money laundering syndicate and are expected to appear in Melbourne Magistrates' Court today.The Changjiang Currency Exchange, which has 12 shop fronts in every mainland state, is now subject to regulatory action by AUSTRAC.The alleged scheme is connected to the Changjiang Currency Exchange, the AFP said.
The Changjiang Currency Exchange has transferred in excess of $10 billion in the past three financial years, the AFP said. The Changjiang Currency Exchange is accused of transferring the unlawfully-obtained funds to national and international accounts by claiming it was the legitimate business profits and business expenses of their customers.
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