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Australian Authorities Charge Four in $123M Crypto Money Laundering Scheme
Australian Authorities Charge Four in $123M Crypto Money Laundering Scheme
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Four individuals face charges after an 18-month probe into a sophisticated money laundering operation that allegedly funneled $123 million through a Gold Coast security firm. Authorities seized $13 million in assets, including 17 properties and multiple vehicles, across Queensland and New South Wales.
The scheme reportedly mixed illicit cash with legitimate business income before converting it to cryptocurrency. Courier services and complex banking arrangements were employed to obscure the money trail. Dead drops facilitated cash collection, highlighting the operation's elaborate design.
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