Nowadays, drugs, crypto as well as the rest of the prohibited products are moving ahead in collaboration. The Australian police as well as the US federal authorities have partnered up to suspect a team of individuals who were allegedly been involved in narcotics distribution as well as money laundering. The persons having the ages of 45, 39, and 34 were caught on Saturday in a storage facility in Sydney as included in a continuous investigation regarding money laundering as well as drug importation across the state with the utilization of cryptocurrency.

The officers, with the support of a riot squad group, implemented search warrants at a couple of apartments situated inside a unit block close to the previous arrests’ location. As per the authorities, $4.7M in cash was confiscated along with USB devices, money counters, as well as laptops, to permit the consumers to obtain Bitcoin (BTC) as well as the rest of the cryptocurrencies by utilizing a debit card or cash.

In addition to this, authorities expressed that the younger man was searched by them and it was discovered that more than $120,000 was in his possession in cash, whereas an amount of $51,500 was discovered from the elder man. Nearly five kilograms of prohibited narcotics were additionally recovered, taking into account methylamphetamine, heroin, as well cocaine. The police were supported on the behalf of the ACIC (Australian Criminal Intelligence Commission) as well as the US Department of Homeland Security.

The younger man undergoes the accusations of criminal trading and money laundering. The accusations leveled against the 39-year-old person were related to 12 counts, taking into account the supply of the knowledge of criminal proceeds as well as the illegitimate drugs. On Saturday, when he appeared in the Central Local Court, his request for bail was denied. A conditional bail has been granted for the elder man and he will appear in front of the court during the coming month for the accusations of assisting in the criminal activities knowingly.

The seizure and arrest, per Robert Critchlow (the Detective Supt. From the Organized Crime Squad of Sydney State Crime Command), indicate the efficiency of multi-departmental activities to eliminate huge crimes throughout the state. in the meantime, an apprehension is mounting in Australia regarding the digital currencies’ utilization. Authorities have proposed legislation to administer crypto assets, under the fundamental objective of minimizing their use in criminal operations including terrorism financing and money laundering.

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