$1.25 Million Seized And Two Men Charged

27 October 2009



Media Release

$1.25 million seized and two men charged
The Australian Federal Police (AFP) has charged two men and seized more than
$1.25 million following a four-month money laundering investigation.
A 57-year-old Baulkham Hills man and a 53-year-old Castle Hill man were
arrested in Parramatta on October 2 and will face Downing Centre Local Court
today.
The AFP investigation began in June 2009 following a referral from the
Australian Crime Commission's (ACC) Financial Intelligence Assessment Team.
The money, suspected to be the proceeds of crime, was allegedly handed to
the 53-year-old man and deposited into a bank account before allegedly being
transferred to various countries overseas.
The AFP, subsequently executed search warrants on residential addresses in
Baulkham Hills and Castle Hill and a business address in Parramatta on
October 2.
On that date, the 53-year-old man was arrested in possession of more than
$600,000, while more than $578,000 was located during the search warrant at
the Baulkham Hills residence.
AFP National Manager Economic and Special Operations Mandy Newton said the
arrests were a strong message to organised crime that unlawful activities
including dealing with the proceeds of crime continue to be the focus of the
AFP.
"The AFP works closely with partner agencies, such as the Australian Crime
Commission, the Australian Tax Office and AUSTRAC to disrupt financial based
crimes," Assistant Commissioner Newton said.
ACC Chief Executive Officer Mr John Lawler said the arrests demonstrated the
value of financial intelligence in minimising the damage to the Australian
economy caused by organised crime.
The two men have been charged with possession of money reasonably
suspected of being the proceeds of crime, contrary to section 400.9 of the
Criminal Code Act 1995.
The maximum penalty for this offence is two years imprisonment.
The ACC's Financial Intelligence Assessment Team is represented by the ACC,
Australian Customs and Border Protection Service, AFP, Australian Securities
and Investment Commission, Australian Taxation Office, AUSTRAC, Centrelink
and the Department of Immigration and Citizenship.

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Phone: (02) 6275 7100



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