More Arrests In Crypto Laundering Case

Following the arrest about 2 weeks ago of a 30 year old man in Sydney for allegedly laundering money through cryptocurrency, a series of arrests have been carried out by the New South Wales Police force. The man in question has since been charged with a total of 24 offences, pending a court date on the 19th of April.

Out of these 24 charges, 19 of them are for “knowingly dealing with the proceeds of crime, knowingly directing activities of a criminal group and drug-related offences.”

Police will allege in court that the suspect arrested last month directed a criminal syndicate to launder money by converting cash into bitcoin on his behalf, totalling $5,479,300.”

6 More Suspects Charged

Following new developments in the investigation that’s been going on since October – when the police first started looking into the alleged money laundering syndicate – 6 more arrests were carried out in rapid succession.


The raids were carried out by the Cybercrime squad  in the greater Sydney area. The raids resulted in the seizure of electronic devices, high-end jewelry , and cash.

Three of the suspects – women from the Homebush West, Newington, and Denham Court areas are facing less serious charges, namely “recklessly dealing with the proceeds of crime”.

However, the other 3 are facing far more serious charges. Among them, a 48-year-old man was charged with “participating in a criminal group contributing to criminal activity, as well as seven counts of knowingly dealing with proceeds of crime with intent to conceal.”

Another suspect – a 24-year old woman – was charged with 4 counts of “knowingly dealing with the proceeds of crime”, as well as contributing to criminal group activity.

As of today, no preliminary court dates for the alleged suspects have been set.

Cristian Lipciuc

Cristian Lipciuc

Cristian Lipciuc is a blockchain journalist working with startup companies across multiple domains such as freelancing, app development & cryptocurrency. Cristian specializes in applied blockchain technologies, cryptocurrency integration, the adoption of new technologies by governments, and cybersecurity.

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