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…
-
Business23 hours agoSilver reaches a 14-year high. Will it outperform the gold price this year?
-
Business23 hours ago3 ASX ETFs for beginners (and experts) to buy and forget
-
Noosa News24 hours agoOutback NSW graziers destock as ‘flogging’ from kangaroos worsens dry times
-
Noosa News19 hours agoCrime scene established as body found at Echo Beach on Gold Coast