Australian Police Bust $123 Million Crypto Laundering Network
The post Australian Police Bust $123 Million Crypto Laundering Network appeared on BitcoinEthereumNews.com. Australian police bust $123M crypto ring after 18-month-long investigation. Raids across Queensland uncover money laundering through fake business operations. Police seized crypto, cash, and devices; suspects face life in prison. Australian authorities have dismantled a large-scale money laundering network operating in Queensland. The group is accused of laundering over $123 million in illicit cash by converting it into cryptocurrency. This major crackdown was the result of an 18-month investigation. Police Raid 14 Places in Crypto Money Case To begin with, on June 5 and 6, 2025, the AFP, along with the QJOCTF, carried out 14 planned raids. These activities happened in Brisbane and the Gold Coast. There were more than 70 officers involved from different organizations, such as AUSTRAC, the Australian Border Force, and the Australian Taxation Office. The company started the investigation in December 2023. Authorities started keeping an eye on big financial transactions. Heathwood suspected Timothy Senior was the main suspect in the investigation. It’s said that he managed to launder $9.5 million in just 15 months illegally. On June 5, prosecutors arrested him and accused him of money laundering. The authorities accused him of not sharing the password for his mobile phone as well. He is still in custody and needs to appear in Brisbane Magistrates’ Court today. Additionally, police charged a man and a woman who live in Maudsland on the Gold Coast. The director and general manager of the security company were both a 48-year-old man and a 35-year-old woman. It was said that the company worked as a cover to send $190 million in cash into the cryptocurrency market. Each of them obtained bail and will show up in court on July 21. West End’s 58-year-old resident was also among those charged. He has been accused of using different companies to move laundered money…
The post Australian Police Bust $123 Million Crypto Laundering Network appeared on BitcoinEthereumNews.com.
Australian police bust $123M crypto ring after 18-month-long investigation. Raids across Queensland uncover money laundering through fake business operations. Police seized crypto, cash, and devices; suspects face life in prison. Australian authorities have dismantled a large-scale money laundering network operating in Queensland. The group is accused of laundering over $123 million in illicit cash by converting it into cryptocurrency. This major crackdown was the result of an 18-month investigation. Police Raid 14 Places in Crypto Money Case To begin with, on June 5 and 6, 2025, the AFP, along with the QJOCTF, carried out 14 planned raids. These activities happened in Brisbane and the Gold Coast. There were more than 70 officers involved from different organizations, such as AUSTRAC, the Australian Border Force, and the Australian Taxation Office. The company started the investigation in December 2023. Authorities started keeping an eye on big financial transactions. Heathwood suspected Timothy Senior was the main suspect in the investigation. It’s said that he managed to launder $9.5 million in just 15 months illegally. On June 5, prosecutors arrested him and accused him of money laundering. The authorities accused him of not sharing the password for his mobile phone as well. He is still in custody and needs to appear in Brisbane Magistrates’ Court today. Additionally, police charged a man and a woman who live in Maudsland on the Gold Coast. The director and general manager of the security company were both a 48-year-old man and a 35-year-old woman. It was said that the company worked as a cover to send $190 million in cash into the cryptocurrency market. Each of them obtained bail and will show up in court on July 21. West End’s 58-year-old resident was also among those charged. He has been accused of using different companies to move laundered money…
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