Police update: additional charges in money laundering investigation at Townsville

Detectives from the Crime and Intelligence Command’s Major and Organised Crime Squad (MOCS) Northern Region have charged an additional two people following the closure of Operation Sierra Avalanche, an investigation into alleged money laundering.

A 26-year-old Burdell man was charged yesterday (May 10) with one count of dealing in the proceeds of crime over $100,000.

Police will allege the man laundered over $800,000 in cash between April and August 2020.

A 38 year-old Oonoonba man was charged on May 5 with one count each of money laundering over $100,000, dealing with instrument of crime, possession of tainted property, possession of a thing used in the commission of a crime, possession of drugs and three counts of conducting transactions to avoid reporting obligations.

Investigators executed a search warrant at an Ireland Street residence in October last year, locating 1.5 kilograms of cannabis, $24,000 cash and quantities of cocaine.

Police will allege the man laundered $200,000 in cash between April and October 2020.

Police will further allege the laundering was done via large scale cash deposits, which were funnelled through shell accounts before being converted into cryptocurrencies.

Both men are scheduled to appear in the Townsville Magistrates Court on June 1.

The nine-month operation resulted in the seizure of $165,000 in cryptocurrency and the arrest of three people on a total of 26 charges, including money laundering offences.

See previous media release.

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