Source : Perth Now news
A major money-laundering racket has been busted after a months-long probe identified more than $9 million linked to illicit tobacco and vape revenue, police say.
A 33-year-old man has been charged with money laundering following his arrest in a sting in central Darwin on Wednesday.
The arrest followed a combined operation by NT Police and the Australian Border Force, with search warrants executed at two city businesses, two homes and a commercial storage facility.
Operation Teton began in May after significant volumes of money being processed through electronic payment facilities associated with certain businesses were identified, police say.
It’s alleged that during the past two financial years, businesses associated with the investigation generated around $12.1 million in sales.
“Investigators have identified approximately $9.36 million of that revenue as being directly attributable to the sale of illicit tobacco and vaping,” NT Police said in a statement on Thursday.
It’s alleged that proceeds of unlawful activity were channelled through merchant payment facilities, company structures and bank accounts.
More than 5500 vapes, 16,500 nicotine products, $73,600 in cash, digital devices and business records were seized in Wednesday’s raids, along with two motor vehicles, bank accounts and the shares of eight business entities.
Detective Senior Sergeant Corey Borton said the investigation was “about the money”, identifying where criminal proceeds came from, where they went, and who possessed or controlled them.
”If you make money from crime, you should expect us to follow the money,” he said.
”Where the evidence establishes the necessary connection, and where the legislation provides a lawful basis to act, we will pursue those proceeds and the financial benefit generated by criminal activity.”
Australian Border Force would continue to work with partner agencies across the country to target criminal networks importing, distributing and profiting from illicit tobacco, Superintendent Amanda Coppleman said.
”Our collective efforts are focused on reducing the harm caused by organised crime operating in the illicit tobacco market and ensuring those who seek to profit from illegal activity are held accountable,” she said.
