NSW man jailed in WA for dealing in more than $5.6 million suspected proceeds of crime
A New South Wales man has been jailed by the Perth District Court for his role in moving more than $5.6 million dollars through Australian bank accounts for an alleged money laundering syndicate.
The 37-year-old was sentenced to 20 months’ jail on Wednesday (10 February 2021) after earlier pleading guilty to four offences over cash deposits into bank accounts allegedly in the names of ‘shell companies’ controlled by the NSW-based syndicate.
Police allege the broader syndicate has laundered more than $100 million dollars of suspected proceeds of crime through Australian bank accounts.
Australian Federal Police charged the man in July 2019, after he used ‘express cash deposit’ facilities at Perth bank branches to help launder more than $5.6 million in suspected proceeds of crime.
The cash had been delivered to him at the car wash he operated in Perth.
The man flew from Sydney to Perth on four separate occasions to receive and deposit the cash.
He and the people who delivered the money to him used a ‘token’ to identify each other, which consisted of a $5 note with a serial number shared between the group.
He deposited more than $4.1 million himself and allegedly organised for one of his employees to deposit approximately $1.5 million cash.
The 37-year-old pleaded guilty in September (2020) to three counts of dealing with money reasonably suspected to be the proceeds of crime greater than $100,000; and one count of aiding, abetting, counselling or procuring another person to deal with money reasonably suspected to be the proceeds of crime greater than $100,000.
The offences happened between 29 January and 12 March 2019.
The man must serve 12 months’ imprisonment before being eligible for parole.
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