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Two men charged over alleged money laundering racket

Two men will face court charged over their alleged roles in a money laundering syndicate operating in Sydney.

In 2014, detectives from the State Crime Command’s Organised Crime and the NSW Crime Commission established Strike Force Millstream to investigate large-scale supply of prohibited drugs in NSW.

As part of the investigation, detectives uncovered a significant money laundering syndicate operating on Sydney’s Lower North Shore.

Following extensive inquiries, Strike Force Millstream detectives, assisted by the Gangs Squad’s Strike Force Raptor, arrested a 38-year-old man during a vehicle stop on Bay Street Mosman, about 6.30am (Tuesday 10 October 2017).

He was taken to North Sydney Police Station, where he was charged with 20 counts of knowingly deal with proceeds of crime – intent to conceal, and participate in criminal group contribute to criminal activity.

Police will allege in court the man was involved in the laundering of $3.5 million.

The man was also charged with pervert the course of justice, which relates to statements provided at court in an unrelated matter.

He has been refused bail to appear at Manly Local Court.

At the same time, strike force detectives arrested a 30-year-old man at a home at Northmead.

He was taken to Parramatta Police Station, where he was charged with 12 counts of knowingly deal with proceeds of crime – intent to conceal, and participate in criminal group contribute to criminal activity.

Police will allege in court the man was involved in the laundering of $2.3 million.

He has been refused bail to appear at Parramatta Local Court.

Shortly after the arrests, search warrants were executed at homes at Mosman and Bayview, and businesses at North Sydney and Lane Cove, where police seized items relevant to the investigation.

As investigations under Strike Force Millstream are ongoing, no further information is available.

Police are urging anyone with information that may assist Strike Force Millstream investigators to call Crime Stoppers on 1800 333 000 or use the Crime Stoppers online reporting page: nsw.crimestoppers.com.au

Information you provide will be treated in the strictest of confidence. Police remind people they should not report crime information via their social media pages.

Source: NSW Police

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