Australian Federal Police have arrested seven people in Melbourne and seized $50 million worth of luxury cars and property during raids on an alleged money-laundering syndicate it says was operating “in plain sight”.
More than 300 officers executed search warrants on homes and offices in Melbourne, Sydney, Brisbane, Adelaide and Perth early on Wednesday following the 14-month investigation into Changjiang Currency Exchange, a retail money-transfer business that police claim has helped criminals launder almost $230 million over the past three years.
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