Overview

• In his fifth day on the stand, Ibrahim Helmy acknowledged receiving bundles of cash from Lack Group's director during multiple Sydney trips and said an $8,000 payment in August 2024 was partly converted to cryptocurrency.
• The inquiry viewed video of an August 28, 2024 envelope handoff outside Helmy's home, and heard police later seized $12,317 in cash, gold bullion and nuggets, a Maserati, $413,000 in crypto held by Helmy, and about $8 million in crypto in his sister's Binance account.
• Under questioning, Helmy accepted he took steps to remove work from Direct Traffic and discussed with Lack Group how best to do so, a shift from earlier claims that his messages downplaying such actions were not serious.
• A covert recording of an August 2024 McDonald's meeting captured Helmy agreeing he wanted "back pay" from Direct Traffic after their arrangement soured in 2021.
• ICAC is examining alleged corrupt relationships that steered at least $343 million in Transport for NSW contracts, with Helmy conceding he signed off payments with little effective oversight, and he has not been criminally charged.