Federal police have swooped in to arrest seven people and seize more than $50 million worth of property and luxury cars in an investigation into an alleged money laundering gang “hiding in plain sight”.
The Chinese gang is alleged to have hid behind the front of legitimate business Changjiang Currency Exchange to launder $230 million of dirty money over the last three years, police say.
The alleged criminal network, dubbed the “Long River” gang, is believed to have operated 12 legitimate currency exchange businesses in major cities across Australia. Wednesday morning’s dramatic raids were the culmination of 14 months’ hard work dubbed “Operation Avarus-Nightwolf which involved over 40 AFP officers, five forensic accountants and undercover operatives.
But hiding behind this appearance of a genuine business was a sinister gang funnelling the proceeds of organised crime groups around the world and teaching criminals how to set up complex fake paper trails to deceive authorities, police allege.
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