A supersized mansion, residential development, farmland and a commercial property are among an estimated $17.3 million of assets seized as part of an Australian Federal Police investigation into alleged money laundering used to purchase and develop property.
The AFP alleges that two Chinese nationals moved about $23 million of fraudulently-obtained funds, proceeds of crimes said to have been committed in China, since late 2012 with the proceeds used to purchase and develop properties in Melbourne and Tasmania.
While investigations into the individuals involved are ongoing, on Tuesday investigators restrained seven properties including a recently-built mansion in Melbourne suburb Mont Albert, three new residential units in Box Hill North Melbourne, a townhouse in Box Hill North Melbourne, commercial property in Blackburn Melbourne, and more than 3000 acres of farmland on Tasmania’s north-east coast.
The AFP investigation – titled Operation Gethen – brings the total amount of restrained assets to around $50 million since signing a Joint Agency Agreement with the Chinese Ministry of Public Security in 2017.
“This is $50 million that has been taken out of the criminal economy,” detective superintendent Kate Ferry said.
“Money laundering – where significant criminal proceeds are moved into Australian assets – is far from a victimless crime.
“It impacts our whole community by eroding the level playing field for Australian homebuyers and small business owners.”
The $17.3 million in restrained assets are now subject to a Commonwealth restraining order made under the Proceeds of Crime Act 2002.
“This outcome sends a strong message to people thinking about evading foreign governments and police agencies. We are working with our international counterparts to stop proceeds of crime being laundered in Australia,” Ferry said.
Operation Gethen marks the fifth investigation involving Chinese nationals allegedly laundering proceeds of crime in Australia since late 2017.
