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Townsville man faces money laundering and drug charges

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A 37-year-old Townsville man is facing a number of money laundering charges after an eight-month police operation.

Detectives from the Major and Organised Crime Squad arrested the man and seized $165,000 worth of cryptocurrency, as part of Operation Sierra Avalanche.

The operation was launched in August 2020 to investigate allegations the 37-year-old had laundered $2.5 million worth of proceeds of crime.

Detectives say they found cryptocurrency and eight vials of steroids after searching a Townsville business and the man’s Garbutt home on April 13.

He is scheduled to re-appear at the Townsville Magistrates Court on October 6.

As part of ongoing investigations, he was today issued with a Notice to Appear for 12 drug-related offences.

(Photo: Crypto 360, (CC BY 2.0) Cryprocurrency360.com)