What was the total amount of money laundered by the Sydney syndicate?

The syndicate is accused of laundering more than $150 million.

What illegal activities were linked to the money laundering syndicate?

The syndicate was allegedly involved with the illicit tobacco trade and laundered money for organized crime groups.

What did Australian police seize during the Sydney raids?

Police seized 10 tonnes of illicit tobacco, over $200,000 cash, and a money counting machine.

Home / Crime and Justice / Tobacco Tycoons Busted: $150M Laundered

Tobacco Tycoons Busted: $150M Laundered

9 Dec

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Summary

Four men arrested over $150 million money laundering syndicate.
Investigators seized 10 tonnes of illicit tobacco and cash.
Syndicate linked to organized crime and illicit tobacco trade.

Authorities have arrested four men in connection with a sophisticated money laundering syndicate accused of laundering over $150 million. These funds are reportedly linked to the lucrative illicit tobacco trade.

Law enforcement agencies, including the Australian Federal Police and Australian Border Force, conducted extensive raids across Sydney. These operations resulted in the seizure of 10 tonnes of illicit tobacco, more than $200,000 in cash, and a money counting machine.

Investigators allege the syndicate facilitated money laundering for several organized crime groups involved in importing and distributing illicit tobacco. One senior member, Haihao He, was arrested and charged with dealing with proceeds of crime exceeding $1 million, with allegations of laundering $23 million through fraudulent businesses.

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