A Canberra man has been charged after an international money laundering operation uncovered more than $10 million in assets in the nation’s capital.
The 35-year-old man was charged Thursday with one count of dealing in property reasonably suspected of being the proceeds of crime.
He was granted bail to appear in court at a later date.
Eight properties, four high-end vehicles, luxury items, cash and cryptocurrencies were seized by the Australian Federal Police.
In one home, more than $1.5 million in cash was found hidden inside the home. Various documents and electronic devices were also examined and seized for further forensic investigation.
The AFP will allege he used “sophisticated” transactions to launder cash and cryptocurrency from the sale of stolen personal identification, scams and illegal online gambling.
Police said the combined cars were worth more than $800,000 and the man had 28 bank accounts and about $600,000 in cryptocurrency.
He faces a maximum sentence of three years in prison.
Acting AFP Commander Scott Raven said money laundering was a threat to Australia’s economy and national security.
“Money laundering is also heavily used to finance further criminal activities that affect the safety of our community,” he said.
“The AFP has a unique ability to disrupt groups suspected of criminal activity where it hurts them the most; seize their profits and prevent them from using those funds in future ventures.”