The Waitematā Financial Crime Unit has zeroed in on a million dollar fake investment scam duping Kiwis out of their savings.
On Tuesday, detectives executed a search warrant at a South Auckland address linked to the scam.
Detective Senior Sergeant Ryan Bunting, of Waitematā CIB, says the arrest is a significant development in what is a complex area of investigation.
"Police making enquiries at the address located and seized a number of documents and computer equipment believed to be linked to the alleged offending."
As a result of these enquiries, a 72-year-old male was arrested at the address and charged.
Detective Senior Sergeant Bunting says the male is due to appear in the Manukau District Court on Friday 26 January.
"The male will face ten counts of money laundering, which is alleged to involve around $1.775 million dollars' worth of money changing hands."
The investigation into this matter remains ongoing and Police cannot rule out further charges in relation to this alleged offending.
"We have previously engaged with our overseas counterparts and will continue to do so as our enquiries progress," Detective Senior Sergeant Bunting says.
