Currency exchange that allegedly laundered almost $230m in illegal funds busted in AFP raids
by Australian Associated Press from World news | The Guardian on (#6FW3T)
Seven arrested after police raid Changjiang Currency Exchange offices across the country for alleged connections with money laundering groups
- Follow our Australia news live blog for latest updates
- Get our morning and afternoon news emails, free app or daily news podcast
An alleged crime syndicate has been busted, with police accusing it of using a money transfer chain with offices in major Australian cities as a front to launder almost $229m.
The Australian federal police (AFP) has accused the Changjiang Currency Exchange, which has 12 shopfronts across the nation, of being secretly run by an underworld money laundering syndicate. The so-called Long River syndicate has been accused of laundering almost $229m in illegal funds through the business in the past three years.
Continue reading...