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

As well as making cryptocurrency transactions, the man is alleged to have bought luxury cars and property to launder funds.

AccessTimeIconOct 15, 2020 at 9:16 a.m. UTC
Updated Aug 19, 2021 at 5:01 a.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

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.
  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.