SYDNEY MAN CHARGED FOR ALLEGEDLY LAUNDERING $123M OF CRIMINAL PROCEEDS

CANBERRA, ACT, Oct. 28 -- Australian Federal Police issued the following media release:

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A Sydney man has been charged over his alleged role in a transnational criminal network suspected of laundering more than $123 million on behalf of multiple organised crime syndicates, with the AFP seizing about $750,000 in cash from a suburban home.

The man, 40, has been charged with one count of recklessly dealing with proceeds of crime worth $10 million or more, contrary to section 400.2B(6) of the Criminal Code (Cth) and one count of recklessly dealing with proceeds of crime worth $100,000 or more, contrary to section 400.4(2) of the Criminal Code (Cth)

The offences each carry maxi...