Australia Federal Police Charged 9 Individuals for $6.9 Billion China-Australia Money-Laundering Syndicate Including Business Partner of Jailed Macau
Australia Federal Police Op Avarus Bellevue Hill Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more Caproasia Access | Events | Summits | Register Events | The Financial Centre The 2023 Investment Day | 2023 Family Office Summits | Family Office Circle This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $3 billion. 
Australia Federal Police Charged 9 Individuals for $6.9 Billion China-Australia Money-Laundering Syndicate Including Business Partner of Jailed Macau Casino Tycoon Alvin Chau, 2 Gangsters with Combined Fortune of $1 Billion & Built Portfolio of Sydney Mansions, Luxury City Building, Land & Cryptocurrencies 11th February 2023 | Hong Kong
Australia Federal Police (AFP) has charged 9 individuals for operating a $6.9 billion (AUD 10 billion) China-Australia money-laundering syndicate including Steven Xin who is the business partner of recently jailed Macau casino tycoon Alvin Chau. In the codename Operation Avarus-Midas (Greek King who turned objects into Gold), the Australia Federal Police uncovered 2 gangsters with combined fortune of AUD 1 billion, with the syndicate building a portfolio of Sydney mansions, a luxury city building, hundreds of acres of land & cryptocurrencies. The alleged transnational crime organisation is known as the Xin Money Laundering Organisation (MLO). Xin MLO charged a fee of between 4% to 10% for money-laundered. See below for statement by Australia Federal Police (AFP):
“ Australia Federal Police Charged 9 Individuals for $6.9 Billion China-Australia Money-Laundering Syndicate Including Business Partner of Jailed Macau Casino Tycoon Alvin Chau, 2 Gangsters with Combined Fortune of $1 Billion & Built Portfolio of Sydney Mansions, Luxury City Building, Land & Cryptocurrencies “
- Article continues below - Web links may be disabled on mobile for security. Please click on desktop. Quick Links, Ads & Announcements Caproasia Access | Events | Summits | Register Events | The Financial Centre The 2023 Investment Day | 2023 Family Office Summits | Family Office Circle New to Caproasia Learn More | Sign Up | Subscribe | Register Events The 2023 Investment Day | HK & SG Where do you invest $250k, $1 million, $10 million, $100 million or $1 billion? Can you generate IRR of 10% / 15% / 20% or more? Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Taking place on 28th March 2023 in Hong Kong, 4th April 2023 in Singapore, and Virtual Investment Day in April 2023. Visit | Register here
Australia Federal Police – The AFP’s role is to enforce Commonwealth criminal law, contribute to combating complex, transnational, serious and organised crime impacting Australia’s national security and to protect Commonwealth interests from criminal activity in Australia and overseas. The AFP also has responsibility for providing policing services to the Australian Capital Territory and Australia’s territories, including Christmas Island, Cocos (Keeling) Islands, Norfolk Island and Jervis Bay. The AFP works closely with a range of other law enforcement and government agencies at state, territory, Commonwealth and international levels, enhancing safety and providing a secure regional and global environment.
Australia Federal Police Statement
Australia Federal Police Op Avarus Bellevue Hill Property and cash restrained as alleged money laundering group charged
2nd Feb 2023 – The AFP has charged nine members of an international money laundering organisation and restrained more than $150 million in Sydney property, cash and luxury items. The AFP alleges the group enabled multiple transnational serious and organised crime (TSOC) groups to launder funds derived from criminal activities. It will be alleged the group laundered more than $150 million of their own profits from this enterprise, between 2018 and 2022.
The AFP arrested the alleged head of the money laundering organisation yesterday, (1 February 2023), at his Vaucluse home. It is alleged the man, 43, was a founder of the group and directed its global activities. Eight other people were also arrested and charged with multiple money laundering and proceeds of crime offences, allegedly carried out in support of the organisation’s extensive activities.
Those charged include:
- A Vaucluse woman, 41;
- A Bellevue Hill man, 45;
- An Epping man, 35;
- A Drummoyne man, 54;
- A Crows Nest man, 41;
- A Mays Hill man, 33, and
- A Yagoona man, 56.
- A Burwood woman, 69 (issued a court attendance notice.)
The Burwood woman is scheduled to face court at a later date. The other eight people are expected to face Downing Centre Local Court today (2 February 2023).
Operation Avarus-Midas identified criminal groups in Australia and offshore allegedly used the money laundering organisation to ensure their money was filtered through legitimate systems and their criminal activities were hidden from law enforcement.
The AFP alleges the money laundering organisation was a global operation uniquely-headquartered in Sydney, which facilitated the movement of illicit money through multiple jurisdictions by multiple means, including exploitation of daigous, casino junkets and the informal value transfer system, which generally occurs outside conventional banking systems. It will be alleged the syndicate acted as an unregulated multi-national bank, able to draw on cash reserves held in multiple countries around the world to facilitate transactions for criminal clients.
Criminal groups in Australia and offshore allegedly used its services to ensure their money appeared to be filtered through legitimate systems and their criminal activities hidden from law enforcement.
The AFP yesterday executed search warrants at 13 locations across Sydney and seized more than $29 million in cryptocurrency, 18 designer watches, 17 designer handbags, at least 46 items of luxury jewellery and four licenced firearms that were unlawfully stored. It will be alleged the group provided services at an industrial scale to Australian-based organised crime syndicates, allowing them to move and access their illicit funds across multiple international jurisdictions, while avoiding anti-money laundering obligations.
The AFP-led Criminal Assets Confiscation Taskforce (CACT) has also obtained restraining orders, under the Proceeds of Crime Act 2002 (Cth). Those orders relate to more than 20 properties in Sydney, including multiple commercial buildings in the CBD and surrounds, two high-value houses in Sydney’s eastern suburbs worth more than $19 million combined, a 360-hectare tract of land near the site of Sydney’s second international airport worth $47 million, 66 bank accounts, cash, and more than $1 million in luxury vehicles.
The CACT worked closely with criminal investigators to identify and restrain more than $150 million of assets which are suspected to be the proceeds of crime. The dual strategy of undertaking parallel criminal and proceeds of crime investigations ensures the AFP and its partner agencies can deliver maximum impact to the criminal environment. The CACT brings together the resources and expertise of the AFP, Australian Taxation Office, Australian Criminal Intelligence Commission, AUSTRAC and Australian Border Force. Together, these agencies trace, restrain and ultimately confiscate criminal assets.
Operation Avarus-Midas began in early 2022 after information was discovered during money laundering Operation Todorka. This investigation resulted in charges laid against members of a syndicate laundering money for Australian criminal figures.
AFP Assistant Commissioner Eastern Command Kirsty Schofield said money laundering organisations were the lifeblood of organised crime and a major enabler of criminal activity in Australia and internationally.
“This was a sophisticated, complex syndicate established to facilitate the movement of funds regardless of their origin, purpose or harm caused to the Australian community,” Assistant Commissioner Schofield said.
“Money laundering is a global threat which no agency can combat alone. The AFP has relied on its expansive international network during this investigation, and would like to particularly thank the Royal Malaysia Police and the Hong Kong Police Force for their support. AUSTRAC has been a key partner in this investigation with its specialist expertise and capabilities.
“I would also like to thank National Australia Bank for their assistance provided during this investigation. The willingness of the private sector to work with law enforcement should send a strong message to organised crime.
“We have not ruled out further arrests in Australia or internationally. We are working closely with our international partners and sharing intelligence to ensure all members of this alleged money laundering organisation are held accountable for their actions.”
The Charges
The men from Bellevue Hill, Epping and Mays Hill have been charged with conspiracy to deal with money to the value of $1,000,000 or more where there was an intention that the money would become an instrument of crime contrary to section 400.3(1) of the Criminal Code 1995 (Cth). This offence carries a maximum penalty of 25 years in prison.
The women from Vaucluse and Burwood, and the men from Drummoyne, Burwood and Crows Nest have been charged with conspiracy to deal in the proceeds of general crime to the value of $1,000,000 or more, contrary to section 400.3(1A) of the Criminal Code 1995 (Cth). The offence carries a maximum penalty of 25 years in prison.
The 43-year-old man from Vaucluse has been charged with both of the above offences.
The Yagoona man has been charged with aid and abet, counselled or procured the commission of an offence against subsection 39(1) of the Crimes Act 1914 (Cth), and pervert the course of justice in relation to a judicial power of the Commonwealth, contrary to subsection 11.4(1) of the Criminal Code 1995 (Cth), both of which are punishable by five years in prison.
How the Avarus-Midas syndicate works
You are:
Professional InvestorInstitutional InvestorFamily OfficeAdvisorFinancial ProfessionalExecutiveCEOEntrepreneurOthers
Select:
TrialSubscriptionMembershipEvents
Interests / Events / Summits / Roundtables / Networking:
Professional InvestorPrivate WealthFamily OfficePrivate BankingWealth ManagementInvestmentsAlternativesPrivate MarketsCapital MarketsESG & SICEO & EntrepreneursTax, Legal & RisksHNW & UHNWs Insights
Your Name*
Company*
Job Title*
Email 1 (Work / Personal)*
Email 2 (Work / Personal)
Country
New to Caproasia Learn More | Sign Up | Subscribe | Register Events Caproasia Users - Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
- Professional Investor
- Family Office
- HNW Partnership
- Family Office Circle
- Family Office Networking
- Family Office Roundtable
- The Family Office Summit
- 28th March 2023 - Hong Kong
- 4th April 2023 - Singapore
- April 2023 - Virtual
- Sept 2023 - Hong Kong
- Oct 2023 - Singapore
- Oct 2023 - Hong Kong
- Visit: The Investment Day | Register: Click here
- The Investment Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
Owl Media Group takes pride in providing social-first platforms which equally benefit and facilitate engagement between businesses and consumers and creating much-needed balance to make conducting business, easier, safer, faster and better. The vision behind every platform in the Owl Media suite is to make lives better and foster a healthy environment in which parties can conduct business efficiently. Facilitating free and fair business relationships is crucial for any thriving economy and Owl Media bridges the gap and open doors for transparent and successful transacting. No advertising funds influence the functionality of our media platforms because we value authenticity and never compromise on quality no matter how lucrative the offers from advertisers may seem.