Latest news with #AdrianTelfer
The Age
4 hours ago
- Business
- The Age
Brisbane at the centre of vast alleged money laundering operation
In just 15 months, a Brisbane businessman allegedly made $9.5 million in cash and cryptocurrency. A tidy profit for the owner of a sales promotion company. Another business owner in West End allegedly made $6.4 million over a 17-month period, supposedly from his classic car dealership. Federal police now allege the men were part of a large, sophisticated money laundering scheme linked to a Gold Coast-based security company that used its armoured transport unit as a front for its crimes. Seventeen properties, vehicles, crypto wallets, bank accounts and about $21 million were seized last week after more than a dozen homes and businesses in Queensland and NSW were raided. The couple behind the Gold Coast security company and the two Brisbane men were arrested and hit with a string of charges including money laundering and handling the proceeds of crime. 'This plot was elaborate and calculated, and it demonstrates the lengths criminals will go to make money,' said Detective Superintendent Adrian Telfer from the Australian Federal Police. The arrests are the culmination of a nearly two-year investigation by Queensland Police's Joint Organised Crime Taskforce and Australian Federal Police, which began when officers traced suspicious transactions. Investigators followed a money trail linked to the 32-year-old sales promotion business owner in the south-western suburb of Heathwood, which led them to the Gold Coast security company, which had transferred $190 million cash into cryptocurrency.
Sydney Morning Herald
5 hours ago
- Business
- Sydney Morning Herald
Brisbane at the centre of vast alleged money laundering operation
In just 15 months, a Brisbane businessman allegedly made $9.5 million in cash and cryptocurrency. A tidy profit for the owner of a sales promotion company. Another business owner in West End allegedly made $6.4 million over a 17-month period, supposedly from his classic car dealership. Federal police now allege the men were part of a large, sophisticated money laundering scheme linked to a Gold Coast-based security company that used its armoured transport unit as a front for its crimes. Seventeen properties, vehicles, crypto wallets, bank accounts and about $21 million were seized last week after more than a dozen homes and businesses in Queensland and NSW were raided. The couple behind the Gold Coast security company and the two Brisbane men were arrested and hit with a string of charges including money laundering and handling the proceeds of crime. 'This plot was elaborate and calculated, and it demonstrates the lengths criminals will go to make money,' said Detective Superintendent Adrian Telfer from the Australian Federal Police. The arrests are the culmination of a nearly two-year investigation by Queensland Police's Joint Organised Crime Taskforce and Australian Federal Police, which began when officers traced suspicious transactions. Investigators followed a money trail linked to the 32-year-old sales promotion business owner in the south-western suburb of Heathwood, which led them to the Gold Coast security company, which had transferred $190 million cash into cryptocurrency.
Daily Mail
6 hours ago
- Business
- Daily Mail
Alleged money laundering scheme is busted as cops uncover complex network in Australia
A security company allegedly used an armoured transport service to smuggle cash around the nation as it laundered millions of dollars of criminal proceeds. Three men - aged 32, 48 and 58 - and a 35-year-old woman have been charged with multiple money laundering offences, Australian Federal Police say. Investigations continue into the scheme that allegedly transferred $190million into cryptocurrency between October 2022 and May 2024. Authorities have restrained 17 properties, bank accounts and luxury cars in NSW and Queensland worth more than $21million, allegedly purchased with tainted money. 'This investigation has unravelled a sophisticated operation that allegedly moved illicit cash around the country,' AFP Detective Superintendent Adrian Telfer told reporters on Monday. 'It was truly a national operation, laundering the profits of criminal ventures across the country, (and) these cash profits were being flown into Queensland to be washed and returned to individuals.' Investigators allege the Gold Coast-based security company used a complex network of bank accounts, businesses, couriers and cryptocurrency accounts to launder millions of dollars of illicit funds over 18 months. 'The results we are announcing today will deliver a significant blow to alleged individuals, whoever relied on this operation to turn their ill-got profits into property portfolios, luxury cars and cryptocurrency,' Mr Telfer said. AFP Detective Superintendent Adrian Telfer claimed the alleged operation was a 'sophisticated operation that allegedly moved illicit cash around the country' (pictured, a Nissan GT-R seized by police) The 48-year-old man and the woman, who were the director and general manager respectively of the security business, were each charged with a money laundering offence. The couple was granted bail to face Southport Magistrates Court on July 21. The 58-year-old man is accused of funnelling laundered money through a business account to a separate business account controlled by the 32-year-old man. He was also charged with two money laundering offences and was granted bail to face Brisbane Magistrates Court on August 1. The 32-year-old man is accused of laundering $9.5 million through the operation over 15 months. He has been charged with money laundering and failing to provide the password to a mobile phone. He has been remanded in custody and is scheduled to face Brisbane Magistrates Court on Monday.
ABC News
7 hours ago
- Business
- ABC News
Four charged with money laundering millions as police dismantle part of alleged 'elaborate' crime ring
Police have charged four people allegedly involved in an "elaborate" multi-million dollar money laundering scheme that smuggled cash and washed millions of dollars through Australian businesses. The Australian Federal Police (AFP) has seized properties and luxury cars across New South Wales and Queensland allegedly purchased with "tainted money" and have frozen bank accounts — all worth more than $21 million. AFP Detective Superintendent Adrian Telfer said it's alleged the group washed millions of dollars in the proceeds of crime through "multiple Australian businesses". He said some of the businesses involved had both legitimate and illegitimate arms, which made the investigation complex. "This investigation has unravelled a sophisticated operation that allegedly moved illicit cash around the country using [cash] dead-drops and couriers, before washing it through a network of seemingly legitimate businesses in south-east Queensland," he said. Detective Superintendent Telfer said dead drops — where cash was left at a pick-up point like a park or in a car — were a hallmark of organised crime and something police had long been dealing with. Police say the cash was sent to Queensland as cargo on domestic flights before being picked up being picked up by couriers from a security company. It's alleged those charged relied on their "ill-gotten profits" to develop property portfolios and purchase luxury cars and crypto-currency. At the heart of the 18-month joint investigation was a Gold Coast-based security firm which offered armoured transport services to clients. Police say that business transferred cash and other valuables between businesses and banks, and converted $190 million into cryptocurrency. The investigations into the source of that money are ongoing. It's alleged that business was mixing cash from its legitimate business arm with illicit funds deposited from suspected criminals. Some of those businesses allegedly involved were a sales promotion company, a classic car dealership and cryptocurrency exchange services. On June 5, police charged a 32-year-old man, who is alleged to have been linked to the "majority" of the restrained properties and a "client" of the security firm. He's alleged to have controlled a sales promotion company that received about $9.5 million in cash and cryptocurrency originating from the security company over 15 months. The 32-year-old has been charged with money laundering as well as failing to give up the password to his mobile phone. A 48-year-old man and the 35-year-old woman, who police allege owned the security firm, were charged on June 6. A 58-year-old Brisbane man who they allege was the director of the classic car dealership which received around $6.4 million from the security firm has been charged and is due to face Brisbane Magistrates Court in August. A Queensland Joint Organised Crime Taskforce (QJOCTF), comprised of the AFP, Queensland Police Service, Australian Border Force, the Australian Criminal Intelligence Commission, AUSTRAC and the Australian Taxation Office worked on the investigation. Detective Superintendent Telfer said police started to investigate "suspicious financial transactions" in December 2023 and is ongoing with the potential for further arrests. "Money laundering is the lifeblood of organised crime," Detective Superintendent Telfer said.
Yahoo
7 hours ago
- Yahoo
Multimillion money laundering scheme scrubbed clean
A security company allegedly used an armoured transport service to smuggle cash around the nation as it laundered millions of dollars of criminal proceeds. Three men - aged 32, 48 and 58 - and a 35-year-old woman have been charged with multiple money laundering offences, Australian Federal Police say. Investigations continue into the scheme that allegedly transferred $190 million into cryptocurrency between October 2022 and May 2024. Authorities have restrained 17 properties, bank accounts and luxury cars in NSW and Queensland worth more than $21 million, allegedly purchased with tainted money. "This investigation has unravelled a sophisticated operation that allegedly moved illicit cash around the country," AFP Detective Superintendent Adrian Telfer told reporters on Monday. "It was truly a national operation, laundering the profits of criminal ventures across the country, (and) these cash profits were being flown into Queensland to be washed and returned to individuals." Investigators allege the Gold Coast-based security company used a complex network of bank accounts, businesses, couriers and cryptocurrency accounts to launder millions of dollars of illicit funds over 18 months. "The results we are announcing today will deliver a significant blow to alleged individuals, whoever relied on this operation to turn their ill-got profits into property portfolios, luxury cars and cryptocurrency," Mr Telfer said. The 48-year-old man and the woman, who were the director and general manager respectively of the security business, were each charged with a money laundering offence. The couple was granted bail to face Southport Magistrates Court on July 21. The 58-year-old man is accused of funnelling laundered money through a business account to a separate business account controlled by the 32-year-old man. He was also charged with two money laundering offences and was granted bail to face Brisbane Magistrates Court on August 1. The 32-year-old man is accused of laundering $9.5 million through the operation over 15 months. He has been charged with money laundering and failing to provide the password to a mobile phone. He has been remanded in custody and is scheduled to face Brisbane Magistrates Court on Monday.
