Australian Police Close Chinese Money-Laundering Operation, Seizing $150M Haul

Australian Police Close Chinese Money-Laundering Operation, Seizing $150M Haul
AFP officers arrest suspects as part of the Operation Avarus-Midas investigation. Supplied
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Police have smashed an organised Chinese-Australian crime syndicate and seized a record $150 million (US$107 million) of assets, including mansions, property, cash, cryptocurrency, designer handbags, and other luxury items.

The Australian Federal Police (AFP) alleged the group, a global operation headquartered in Sydney, enabled multiple transnational organised crime groups to launder funds derived from criminal activities.