Ten arrested, assets worth $10m seized in raids
Auckland police have arrested 10 people and seized more than $10 million worth of assets, in its final operation targeting high-end money launderers.
The arrests were made following 12 search warrants across Auckland yesterday as part of a money laundering investigation by the police’s financial crime group.
Detective inspector Lloyd Schmid said the investigation, dubbed Operation Ida, was the final leg of a trilogy of operations, which included Operation Martinez and Operation
Brookings. In total, 28 people have been arrested and 103 charges laid across the three operations and more than $21m restrained.
The 10 people arrested yesterday are alleged to have operated through a legitimate foreign exchange business in Auckland City, Schmid said.
Members of the Financial Crime Group, assisted by the Armed Offenders Squad executed search warrants. Four properties and three vehicles, worth more than $10m, have been restrained. The contents of 23 bank accounts, cash, high value items and cryptocurrency wallets have been seized, worth around $1m. This includes approximately $200,000 worth of jewellery, Schmid said.
The 10 arrested face charges relating to money laundering, obtaining by deception and possession of methamphetamine for supply.
They will appear in the Auckland District Court today and next Tuesday.
‘‘These investigations focused on the activities of semilegitimate businesses that we allege were engaged in a staggering amount of money laundering,’’ Schmid said. ‘‘Police will allege that those funds being laundered were helping to fund the importation of illegal drugs into New Zealand.’’
The funds were also generated by these individuals and organised crime groups involved in the manufacture and supply of drugs, theft and fraud-related offending, he said.
‘‘Our inquiries to date indicate that funds were being laundered and sent offshore by those involved in this operation to settle payment for illicit drugs and other illicit commodities being sent to our country.’’