22 Jul 2010
The culprits of multi-million dollar money laundering have been arrested by the police in Auckland.
A raid was made on 'a financial exchange business' by Organised and Financial Crime Agency (OFCANZ), where the two culprits tried capturing huge amount of cash, blocking the operating accounts of the business and holding back a property owned by the Director of the Company. They captured a house worth $2 million, $40,000 in cash, two vehicles and the bank accounts of the financial firm.
Inspector Steve Wood, Head of the OFCANZ Taskforce stated that their raid reflected their constant efforts to curb the crime of money laundering in the state.
They were working with 22 other Government agencies and new powers were given to them by Criminal Proceeds (Recovery) Act, which made the mission to be accomplished.
One of the accused is the Manager of the financial firm, who had been in China for many months. The other one is Xiang Zhang, 27, of Glenfield on Auckland's North Shore, who is on bail till August 6. They were jointly charged with money laundering of $1.9 million over the past year.
Mr. Wood told that an imprisonment for seven years can be sentenced for money laundering.
For such cases, 16 people have already been arrested.