Overview

• Seven people, including four Chinese nationals and three Australians, have been charged for laundering over $145 million through Changjiang Currency Exchange, allegedly controlled by the Chinese Long River money laundering crime syndicate.
• The money laundering operation, the most complex in Australia's history, was uncovered following a 14-month investigation involving Australian agencies and the U.S. Department of Homeland Security.
• Investigators became suspicious of Changjiang Currency Exchange's activities during COVID-19 lockdowns when the company continued to thrive and expand despite many businesses suffering.
• The syndicate allegedly funded an extravagant lifestyle, eating at extravagant restaurants, drinking expensive wine and sake, travel on private jets, and lived in luxury homes, one of which is valued at more than 10 million Australian dollars. The police have now seized more than $50 million in assets.
• The syndicate reportedly also purchased fake passports for A$200,000 ($126,000) each, potentially to facilitate members fleeing the country if law enforcement agencies became suspicious.