Business
$1m in cash seized as man arrested over alleged money laundering via cryptocurrency – Sydney Morning Herald
The alleged mastermind of a multimillion-dollar money laundering syndicate has been arrested in Sydney after his car was stopped by police.
During a search warrant at a home in Wentworth Point, more cash, more than one kilogram of methylamphetamine, cocaine, mobile phones, a laptop and electronic storage devices were also seized, police said.
Police will allege in court the man directed a criminal syndicate to launder money by converting cash into bitcoin on his behalf, totalling $5,479,300, police said in a statement on Monday.
Cybercrime squad detectives made the arrest on Monday. Credit:NSW Police
Mr Zhong has been charged with 24…
-
Noosa News21 hours agoMother and child found dead at Kenmore Hills home
-
Noosa News22 hours agoMan charged with performing Nazi salute at the AFL facing two new counts
-
General20 hours agoCaboolture Hospital to review medical scans amid concerns about outpatient service
-
Noosa News20 hours agoLine dancing returns to Broadbeach thanks to Beyoncé and TikTok