Ten people have been arrested and millions of dollars in assets seized after police carried out multiple raids in Auckland today.
Twelve search warrants were carried out across the city this morning as part of an investigation into high-end money laundering, police say.
It's alleged the "semi-legitimate businesses" were engaged in a "staggering amount of money laundering", Detective Inspector Lloyd Schmid says.
A Newmarket business was among the properties raided, as well as a number of residential addresses.
Four properties and three vehicles have been seized in St Heliers, Kumeū and New Lynn, with a total value of more than $10 million.
Police say cryptocurrency wallets, 23 bank accounts, cash and high value items, including around $200,000 in jewelry, have also been restrained, worth around $1 million in total.
Ten people have been arrested, nine men and one woman, ranging from 32 years old to 70 years old.
The charges include money laundering, obtaining by deception and possession of methamphetamine for supply.
Police are warning other money launderers to "expect to be on our radar".
"This serves as a warning to offshore drug dealers and organised crime groups that police are no longer just targeting the importation of the drugs, but increasingly we will be targeting the money trail which fund it as well," Schmid says.
"Money laundering is not a victimless crime and while this may appear like money simply being passed around, it actually represents immeasurable harm that is being imposed on our communities."
Those charged are due to appear in Auckland District Court tomorrow and next Tuesday.
SHARE ME