AUSTRALIA: POLICE SEIZES $17.3 MILLION WORTH OF PROPERTY IN CHINESE MONEY LAUNDERING PROBE

ABC News reported on 31st October that Australian Federal Police had seized $17.3 million in property as part of an investigation into alleged money laundering by Chinese nationals.  It seized 6 properties in Melbourne’s east and more than 3,000 acres of farmland at Musselroe Bay on Tasmania’s north-east coast.  The operation followed a request in 2017 from the Chinese Ministry of Public Security for help to identify 2 Chinese nationals suspected of laundering proceeds of crime in Australia, with money said to have been raised in China through real estate and bank loan fraud and the 2 Chinese nationals having moved about $23 million of alleged proceeds of crime from China since late 2012.

https://www.abc.net.au/news/2019-10-31/afp-melbourne-tasmania-property-alleged-chinese-money-laundering/11657344

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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