scoop.co.nz 17 Mar, 2021 05:00 am

Arrests made and $10.2m in assets restrained

Arrests made and $10.2m in assets restrained
Police are announcing its third instalment in a trilogy of operations targeting and disrupting Auckland’s high-end money launderers.

Police have laid a raft of serious charges including money laundering, obtains by deception and possession of methamphetamine for supply.Those offences range from money laundering, structuring to avoid the AML/CFT requirements, fraud related offending, supplying methamphetamine, cultivation of cannabis, supplying cannabis and firearms related offending.“These investigations focused on the activities of semi-legitimate businesses that we allege were engaged in a staggering amount of money laundering,” says Detective Inspector Schmid.“In the case of Operation Ida, we have investigated a money laundering syndicate operating in Auckland, with a foreign exchange business allegedly as a front for their illicit activities.

”Detective Inspector Schmid says Police will continue to investigate, disrupt, and prosecute money laundering syndicates and their associates.Detective Inspector Lloyd Schmid, of the Financial Crime Group, says the three operations are the culmination of more than a year’s worth of investigative work by the Financial Crime Group.

Read full story at scoop.co.nz