Australian Federal Police charges four with laundering $190M in crypto

The Australian Federal Police said three men aged 32, 48, and 58, and a 35-year-old woman were charged with multiple money laundering crimes involving $190M in crypto. A security company, allegedly owned by two of the charged suspects (a couple), used an armored transport service to smuggle cash around the country as it laundered millions of dollars of criminal proceeds.

Investigators following the money trail allegedly identified a sophisticated money laundering operation run through the armored transport unit of a security company that transferred $190M cash into crypto. Investigations into the source of the $190M converted into crypto by the security company remain ongoing.

Bries says the four used money laundering to legitimize their profits 

Investigators said that the money laundering operation was allegedly run through the armoured transport of a security company that converted $190 million in cash into cryptocurrency.

— (Bluey Fan Account) K9 News (@SausageAnchor) June 9, 2025

Queensland Police Service Crime and Intelligence Command, Detective Acting Superintendent David Briese said the four were part of a criminal network that used money laundering to legitimize their profits and exploit legitimate businesses, harming communities and economies. He added that their actions fueled serious organized crime, enabling everything from drug trafficking and exploitation to fraud and violence.

A 32-year-old Brisbane man from Heathwood was allegedly a major client of the money laundering operation and washed $9.5 million in 15 months. He was charged on Thursday (5 June) with money laundering and failing to provide the password to a mobile phone. He was remanded in custody and is scheduled to face Brisbane Magistrates’ Court today (9 June).

A Gold Coast man, 48, and a woman, 35, who were the security business’s director and general manager, respectively, were each charged on Friday (6 June) with a money laundering offense. The couple, from Maudsland, was granted watchhouse bail and are scheduled to face Southport Magistrates Court on 21 July 2025.

Another 58-year-old Brisbane man from West End allegedly funneled money through a business account to a separate business account controlled by the Heathwood man. He was also charged on Friday with two money laundering offenses. He was granted watchhouse bail and is scheduled to face Brisbane Magistrates Court on 1 August 2025.

Australian taskforce executes 14 targeted raids across Brisbane and the Gold Coast

Over 70 members from the Queensland Joint Organised Crime Taskforce (QJOCTF) executed 14 search warrants at homes and businesses across Brisbane and the Gold Coast between the 5th and 6th of June 2025. The QJOCTF comprised the AFP, Queensland Police Service, Australian Border Force, the Australian Criminal Intelligence Commission, AUSTRAC, and the Australian Taxation Office.

AUSTRAC and the ATO also provided analytical expertise and support during the investigation, which was centered on Southeast Queensland, and monitored cash dead-drops in multiple cities around Australia.

The AFP-led Criminal Assets Confiscation Taskforce (CACT) restrained assets across Queensland and NSW that were suspected of being the proceeds of crime. All confiscated assets had a combined value of about $21 million, including 17 properties, bank accounts, and vehicles. Detective Acting Superintendent Briese from the Drug and Serious Crime Group said this case demonstrated the complexity of money laundering operations and the extreme lengths criminals were willing to go to conceal their illicit gains.

“Money laundering investigations are incredibly challenging due to the complex web of deception used by criminals, and this crime cannot be tackled by one agency alone.”

– Adrian Telfer, AFP Detective Superintendent

Telfer pointed out that the plot was elaborate and calculated, demonstrating the lengths criminals were willing to go to make money. However, he added that the result of the raid was a testament to the great work to protect the public from the harm of serious and organized crime done by the investigators, forensic accountants in the QJOCTF, the CACT, and the Taskforce Avarus partners.

ABF Acting Commander Troy Sokoloff praised the efforts of ABF officers working alongside partner agencies in the QJOCTF. He added that the outcome sent a strong message to those who sought to engage in criminal money laundering. 

AUSTRAC National Coordinator, Law Enforcement, Markus Erikson, also said AUSTRAC intelligence was critical in stopping these crimes. He claimed that the intelligence AUSTRAC provided to law enforcement “painted a vivid trail” of criminal activity being undertaken by different individuals.

Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More