Overview

• Operation Wyvern hearings began in July with Chief Commissioner John Hatzistergos presiding over a six-week ICAC inquiry into procurement malpractices at Transport for NSW.
• Today’s testimony revealed WhatsApp exchanges showing Helmy provided step-by-step cryptocurrency transfer instructions for sums up to $150,000, including messages boasting “I am richer haha.”
• Ibrahim Helmy remains at large under an active arrest warrant after failing to appear before ICAC in May, with authorities believing he is being hidden within New South Wales.
• Multi-agency raids in September led to the seizure of gold bullion bars, luxury vehicles and millions in cryptocurrency linked to the alleged $11.5 million kickback operation.
• Investigators allege Helmy inflated $343 million in roadworks contracts to funnel illicit payments through cash, gold and digital assets across nine companies.