A Sydney construction business owner has been charged over his alleged role in a sophisticated $2.4 million money laundering operation that police claim helped funnel illicit cash through a legitimate business.
The 48-year-old man was arrested following an investigation into an alleged cash laundering network operating between June 2024 and November 2025.
Police allege the business owner accepted large amounts of illicit cash through his construction company before paying workers in cash. Investigators claim he then transferred legitimate funds back to the criminal syndicate, retaining a commission and disguising the transactions using fraudulent invoices.
Authorities believe the alleged scheme allowed criminal proceeds to be integrated into the legitimate financial system while concealing the true source of the money.
On Friday, officers executed a search warrant at the man’s home in Sydney’s north, where they seized several mobile phones, electronic storage devices and approximately $30,000 in cash.
He was subsequently charged with dealing with proceeds of crime involving money or property worth $1 million or more, one of Australia’s most serious money laundering offences.
The accused was refused bail and is expected to face court. If convicted, he faces a maximum penalty of 12 years’ imprisonment.
The arrest was made during a joint investigation between the Australian Federal Police (AFP) and the New South Wales Police Force targeting organised financial crime and money laundering operations.
Acting Detective Superintendent Dan Burnicle said the alleged operation demonstrated the calculated methods criminal syndicates use to disguise illegal profits through legitimate businesses.
Police said investigations into the wider money laundering network remain ongoing, with authorities continuing to target individuals and businesses suspected of facilitating organised crime through illicit financial transactions.
