Two men have been charged and a number of luxurious sports activities cars have been seized in Sydney after two corporations had been allegedly defrauded greater than $5.5 million in a cryptocurrency scam.
Key factors:
- Luxury cars price about $2.7 million have been seized
- The alleged cryptocurrency scam dates again to 2021
- A 67-year-old man has been granted conditional bail over his alleged half within the fraud
Fabio Sa Alves, 39, was stopped and arrested whereas driving in Cromer, in Sydney’s northern seashores, on Friday, in line with NSW Police.
Later that day, police searched a house and warehouse in the identical suburb and seized six luxurious and traditional cars, 11 bikes, seven designer watches, nunchakus and cryptocurrency wallets.
Investigators additionally retrieved a purple Ferrari valued at about $600,000 at a automobile dealership in Marrickville within the internal west the next day.
The entire worth of all luxurious cars seized was about $2.7 million.
Yesterday, a 67-year-old man was arrested in Manly and charged with coping with property proceeds of crime price greater than $100,000.
Police say Mr Sa Alves used a cryptocurrency scam from 2021 to defraud the businesses, whereas the older man allegedly authorised the funds and removed the Ferrari to keep away from police detection.
Monetary Crimes Squad Commander Detective Superintendent Gordon Arbinja mentioned whereas cryptocurrency was not unlawful, folks wanted to be cautious when utilizing it.
“When shopping for or promoting crypto, be sure to use a digital forex change that’s accepted by AUSTRAC and at all times scrutinise all the small print,” she mentioned.
Mr Sa Alves has been charged with three counts every of dishonestly acquiring monetary benefit by deception, and knowingly coping with proceeds of crime with intent to hide.
He was refused bail at Parramatta Native Courtroom and is because of seem earlier than Downing Centre Native Courtroom on August 24.
The older man was granted conditional bail and is because of seem earlier than Manly Native Courtroom on September 6.