The Long River of Chinese Money Laundering By James Reed

As Australia becomes increasingly dominated by communist China, not only through economics, but demographic replacement, expect to see more stories like this one, on Chinese organised crime. The details are below, but involve yet another business linked to a Chinese money laundering syndicate. On second thoughts, while I think that in the short-term, we may see more stories like this, in the longer-term, as the crime organisations get fully imbedded into Australia, there will probably be less seen, as they will become part of the institutions, like the Yakuza has in Japan. In Australia, the Mafia has long ago become part of the woodwork, and the authorities do not seem to care about the crims in grass houses as I think crime reporter Bob Bottom once described them. You see, it is all part of the joy of diversity. It is our strength, we are told.

https://www.adelaidenow.com.au/news/how-10b-alleged-long-river-whatsapp-scammers-were-busted/news-story/76184b8245bd61ac7d8080842966d3f5?campaignType=external&campaignChannel=syndication&campaignName=ncacont&campaignContent=&campaign2

“A currency exchange business linked to a Chinese money laundering syndicate has had its licence revoked as five of the accused – including a new mum – fronted court.

A currency changing business at the centre of a money laundering sting has had its licence to operate suspended by financial regulator Austrac.

The Australian Federal Police revealed that the company, which turned over $10 billion in three years, was revoked on Thursday morning.

It is alleged that the currency exchange moved $10 million “contracts” for organised crime amongst legitimate transactions.

More than $60 million of assets was restrained from the syndicate, known as Long River, in raids across the country this week.

More than $7 million was restrained in bank accounts, while luxury cars and properties were also restrained.

Customers were greeted with a closed sign at the Changjiang Currency Exchange outlet on Swanston Street in Melbourne on Thursday.

A source claimed that the currency exchange was offering cut price rates in recent months.

“They were selling at a negative rate, they were at one per cent under, we couldn’t work out why,” the source claimed.

The company also operated as a legitimate business with thousands of customers across the country.

The AFP has assured customers they are not being investigated and have done nothing wrong.

It comes as five Long River accused had fronted court by Thursday afternoon, including a married couple and a woman with a young baby at home.

Ji Lu, 28, is expected to apply for bail next week as the Melbourne Magistrates Court heard her 21-month old child was being cared for by her mother while she was behind bars.

Magistrate Steven Raleigh gave permission for the Balwyn woman to have regular phone calls facilitated from lock up with her mother so she could check on her baby.

Defence lawyer Avi Furstenberg said Ms Lu would be “vulnerable” in custody, and would make an application for bail next Thursday.”