Luxury cars, designer clothes, drugs and hundreds of thousands in cash is seized by cops as they close in on an $80million money-laundering syndicate
- Police raided a Sydney security company allegedly linked to a crime syndicate
- Four people were arrested and $400,000 and a car were seized by the police
- Police allege the security company laundered money for a criminal syndicate
- They allege it is linked to a raid in early 2019 where drugs and cars were seized
Three men and a woman have been arrested after a Sydney security company was allegedly used as a front by a criminal syndicate to launder $80million.
Police raided the property on Thursday morning and will allege it was being used to move illegally obtained money between businesses to make the transactions look legitimate.
During the raid, police seized $400,000 and a car they believe was obtained through criminal activity.
Police allege the company is linked to a crime syndicate raided in March 2019 where luxury cars, designer clothes, drugs and hundreds of thousands in cash were seized.
Two men, aged 29 and 30, were arrested at a business in Guildford West at 9am and shortly after, another man, 30, and his girlfriend were arrested at Merrylands West.
NSW police executed the raid on Thursday morning after investigations led them to believe it was being used to move illegally obtained money between business to make the transactions look legitimate
The security company allegedly operated as a front over a period of four years and redirected money to a Sydney crime syndicate - or into overseas accounts.
'It was a semi-legitimate business, but it's primary function (was) to act as a front for the money-laundering operation,' NSW Police detective chief inspector Nick Read told 9news.
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The four people arrested today are assisting with police inquiries.
Search warrants have been executed at the Merrylands West home, the security company and a second business in Sydney's CBD.
An investigation into whether the alleged crime syndicate has extended its illegal activity outside of NSW and into Victoria and Western Australia is also underway.
During the raid, police seized $400,000 and a car they believe was obtained through criminal activity
Police allege the company is linked to a crime syndicate raided in March 2019 where luxury cars, designer clothes, drugs and hundreds of thousands in cash were seized
Two men, aged 29 and 30, were arrested at a business in Guildford West at 9am and shortly after, another man, 30, and his girlfriend was arrested at a home in Merrylands West
