Local News

Two Townsville men charged with money laundering offences after nine-month operation


Police have charged a further two people after a major investigation into money laundering.

A 26-year-old Burdell man has been charged with dealing in the proceeds of crime over $100,000.

It is alleged he laundered more than $800,000 in cash between April and August 2020.

Meanwhile, a 38-year-old Oonoonba man is facing a raft of charges including money laundering over $100,000, drug possession, dealing with an instrument of crime and conducting transactions to avoid reporting obligations.

The charges come after investigators found 1.5 kilograms of cannabis, $24,000 cash and a quantity of cocaine while searching a home on Ireland Street in October last year.

Police allege the 38-year-old laundered $200,000 in cash between April and October 2020.

They further allege the laundering was done via large scale cash deposits, which were funnelled through shell accounts before being converted into cryptocurrencies.

Both men are due to face the Townsville Magistrates Court in June.

Police say the nine-month operation resulted in the seizure of $165,000 in cryptocurrency and the arrest of three people, who have been charged with a total of 26 offences.