Police have arrested three Australian citizens and four Chinese nationals which includes three women and four men.
According to the AFP, the ‘Long River’ laundering syndicate is one of the most substantial on record in Australia.
A Chinese national has also been charged with using the exchange to launder around $100 million in funds stolen from the victims of an investment scam.
Assets worth approximately $50 million have been seized from the alleged operators of the syndicate.
Subscribe to The Briefing, Australia’s fastest-growing news podcast on Listnr today. The Briefing serves up the latest news headlines and a deep dive into a topic affecting you. All in under 20 minutes.