Organised Crime Squad detectives investigating money laundering syndicates across the state have charged a man after seizing more than $445,000 cash at Ultimo last month.
Following information received, investigators from the State Crime Command’s Organised Crime Squad stopped a 33-year-old man at a shopping centre at Ultimo about 2.30pm on Wednesday 16 September 2020.
In a search of the man and his possessions, officers located $390,000 cash inside a cooler bag.
The man was arrested and taken to Surry Hills Police Station.
A short time later, officers conducted a search of a vehicle at Ultimo and located a further $50,000 cash and financial documentation.
A subsequent search warrant was executed at a unit at St Ives, where police seized $5,695 cash, electronic devices and further documentation.
The St Ives man was charged with two counts of deal with property proceeds of crime.
He was granted strict conditional bail to appear at the Downing Centre Local Court today (Thursday 8 October 2020).
Investigations are continuing.
Anyone with information about money laundering offences is urged to contact Crime Stoppers: 1800 333 000 or https://nsw.crimestoppers.com.au. Information is treated in strict confidence.
