Luxury cars among $6m of assets seized in major Auckland money laundering bust

Nine people have been arrested and $6 million in assets seized by police in one of the largest money laundering operations seen in Auckland.

More than $120m in transactions may have been laundered, police said. 

Those charged were allegedly involved in a sophisticated organised crime group, Detective Superintendent Iain Chapman said at a media conference on Wednesday afternoon.

Police carried out 23 search warrants across the region on Wednesday morning after an investigation by the Financial Crime Group.

Eight luxury cars, including a Bentley, two Porsches, two Range Rovers, a Mercedes, a Rolls-Royce and a BMW, have been seized.

The vehicles were used in illegal activity, involving money laundering totalling more than $100 million, Chapman said.

Earlier on Wenesday, police had been searching for a white 2014 Rolls-Royce Wraith worth a quarter of a million dollars, Chapman said, but it was later found at a central Auckland car yard.

Eight properties in central Auckland, Albany and Glenfield have also been restrained.

The total value of items seized, including vehicles and properties and bank account funds, was $6m, Chapman said.

“The sums of money involved are staggering. Our investigation has discovered that this group of individuals have dealt with transactions in excess of $120m.”

Although it was possible some money had been legally obtained, police believed a significant amount was the proceeds of crime.

The investigation was dubbed Operation Martinez.

Eight men and one women, aged 29 to 48, are due to appear in Auckland District Court on Thursday.

One person is facing charges relating to the supply of methamphetamine.

Chapman refused to disclose exactly how police found out about the money laundering scheme but said police worked closely with banks and other agencies.

“In New Zealand we’re really well geared up as a country to detect these kinds of activities.”

He said none of those arrested had known links to any “501 gangs”, like the Comancheros.

Chapman said those arrested used what looked like a legitimate financial provider with offices in and around Auckland to launder money.

Police would pore over the books of those businesses during the next few weeks or months.

Money laundering was a “critical component” of organised crime, Chapman said.

“Disrupting and dismantling operations like this will have an impact on organised crime within New Zealand.” (via Stuff)