A man of New Zealand is Arrested on Charges of Cryptocurrency Money Laundering

Ritika Sharma
Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.
  • Man appeared in Auckland’s district court, where he was charged with money laundering
  • It is also found that the defendant has laundered most of his seized funds by purchasing high-end vehicles
  • It is found that five other individuals who were charged for the involvement in money laundering with the man were arrested

A 40 year-old-man of Auckland, a large metropolitan city of New Zealand, is arrested as a major asset conquering operation. The man faces a total of 30 charges, some of which claim that the person gave thousands of dollars to buy those cryptocurrencies. On Thursday, the man appeared in Auckland’s district court, where he was charged with money laundering, including cryptocurrencies.

“Operation Brooking”

This operation is popularly identified as Operation Brooking”. According to the report, the court judge, Magistrate Dianne Hale, granted the man had been granted interim name suppression, and so his details remain unknown. The man was served with 30 different charges, though all the charges pointed towards the man’s hand in purchases of luxury goods, suspicious crypto transactions, and money seizures. However, the man claimed that he was given thousands of New Zealand Dollars for crypto purchases and gained that money through money laundering.

The culprit also assisted with other in this laundering of funds via cryptocurrencies. It is also found that the defendant has laundered most of his seized funds by purchasing high-end vehicles, including $1,91,919 worth of a Mercedes G63 and $2,79,687 worth of Lamborghini. Besides luxury cars, he bought a property in East Auckland to launder money. Earlier this year, the culprit also faked his identity to receive more than a million-dollar from a banking institution.

May the next hearing of the defendant with the charges put on him will appear by next month.

Other Individuals are also Arrested and Charged for the Same

It is found that five other individuals who were charged for the involvement in money laundering with the man were arrested. In the name of operation Brooking, officers conducted many search warrants and concluded with the seizure of worth around $3.3 million, as three properties and seven high-end luxury vehicles.

Embracing U.S. authorities

The New Zealand police have been conducting massive operations as a part of the global investigation to deal with such offenders or money launderers. They have been working closely with the U.S. authorities. As of June this year, New Zealand has operated the largest money-laundering bust in the country. Thus, New Zealand exclaimed that it is not the right place for launderers to try and hide their ill-gotten funds. However, as a result of cyber-crime, all illicit funds are being profited by victimizing thousands of people across the globe.

Join The Coin Republic’s Telegram Channel for more information related to CRYPTOCURRENCY NEWS and predication.

Download our App for getting faster updates at your fingertips.

We Recomaned

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange

Partners