New Zealand Man Charged With Money Laundering via Crypto and Luxury Cars

A 40-year-old man from Auckland, New Zealand, faces a wave of charges for money laundering via allegedly shady cryptocurrency transactions and luxury car purchases.

  • According to reports by the NZHerald, the man, granted interim anonymity after he appeared at the Auckland District Court on Thursday, faces 30 charges in all.
  • He is alleged to have received thousands of New Zealand dollars to buy cryptocurrency as part of transactions intended for money laundering, per the reporting.
  • Other charges allege the man laundered funds via the purchase of high-end vehicles including NZ$421,000 (US$279,687) for a Lamborghini and around NZ$288,888 (US$191,919) for a Mercedes G63.
  • NZ$1.7 million (US$1.12 million) is claimed to have been used to launder money through a property in East Auckland.
  • He is further alleged to have laundered money received from an individual at Auckland Airport earlier this year, as well as obtaining over a million dollars from a bank using a false identity.
  • The charges come after an asset-seizure operation from the police dubbed “Operation Brookings” involving numerous officers and a number of search warrants.
  • In total, the operation netted seven high-end luxury vehicles and three properties worth an estimated $3.3 million (US$2.19 million) in total.
  • Five other people have been arrested and stand accused of being involved in the laundering scheme.

See also: New Zealand Police Seize $90M Linked to Alleged BTC-e Exchange Operator

Related Stories

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Cryptocurrencies Videos


    CoinDesk is the leading digital media, events and information services company for the crypto asset and blockchain technology community. Its mandate is to inform, educate and connect the global community as the authoritative daily news provider dedicated to chronicling the space. Founded in May 2013, CoinDesk reaches millions interested in blockchain technology thru its website, social media, newsletters, podcasts and video. CoinDesk created the original reference rate known as the Bitcoin Price Index which is widely sourced in the media including The Wall Street Journal, Financial Times, CNBC and many others on a daily basis.

    Learn More