Two Perth men have been arrested on serious money laundering charges after police seized more than $6 million in cash, property and hundreds of luxury items including watches and handbags.
On January 26, detectives searched a property on The Boulevard in City Beach, where they allegedly discovered 209 designer handbags, $1.7 million worth of watches – one alone valued at $150,000 – and three vehicles worth about $600,000.
Luxury cars, cash and handbags were seized by WA Police as part of an investigation into an alleged money-laundering scheme.Credit: WA Police
A second search on the same day at a property in Thor Street, Innaloo, allegedly revealed a further $200,000 in cash, along with around 300 fraudulent bank cards.
Land valued at approximately $2.4 million was also seized and frozen.
It will be alleged more than $1.2 million in cash and bank cards were used by the two men to commit money laundering offences, and that the proceeds were used to buy the luxury items.
Detectives’ investigations also suggested a number of the luxury items were transported internationally and sold at a higher value, allowing the organisation to move profits and GST claims offshore.
A 36-year-old man, who lived at the City Beach property, has been charged with one count of receiving possessing, concealing, disposing of or dealing with any money or other property that is the proceeds of an offence.
He is next due to appear before Perth Magistrates Court on February 6.
