Police have arrested five people from the north and seized over $1 million in cash as part of an investigation into a significant money laundering syndicate.
Warrants were executed at four properties in Whittlesea, Kalkallo and Epping on Wednesday morning.
Police said $1 million in cash was found during the search of the Kalkallo address.
Searches of the other addresses uncovered more cash, along with gold, jewellery and drugs, believed to methamphetamine and opium, according to police.
Two drug laboratories were also found at one of the Epping properties.
Crime Command Detective Superintendent Geri Porter said the arrests and seizures are a testament to the work currently being done by police to proactively target money laundering syndicates choosing to operate within Victoria.
“One million dollars is not spare change – this is a significant seizure and one that will prevent that money being re-invested to cause further harm to the community,” she said.
The investigation led to a 35-year-old Whittlesea man, a 36-year-old Kalkallo man, a 31-year-old Kalkallo woman, a 29-year-old Epping man and a 34-year-old Epping woman being arrested.
It is expected that all five will be charged with an array of drugs and proceeds of crime offences.
The six-month investigation followed information provided to police in relation to money laundering and drug trafficking by a syndicate in the northern suburbs of Melbourne.
Information to Crime Stoppers: 1800 333 000 or www.crimestoppers.vic.com.au
