'What we're alleging is that members of certain groups in Sydney are providing money to people to facilitate the the laundering of those proceeds into other activities such as buying property, luxury watches, hiring motor vehicles and renting very expensive premises in Sydney to hide the origin of those funds.'
'This investigation is still underway, there are more facets and this is just the first stage,' Organised Crime Squad Commander Detective Superintendent Rob Critchlow told reporters on Wednesday afternoon. Officers allegedly seized cocaine, cannabis, documentation, and other items for further forensic examination during the raids. Police executed further search warrants at Barangaroo and Chifley Tower in the CBD.
A man (pictured) has been charged with money laundering after he was arrested at a Pyrmont unit during an early morning raid