Police find $3.3m in cash hidden in two Holden utes
DETECTIVES from the Organised Crime Squad have arrested and charged a man after locating $3.3 million in Australian currency hidden inside two Holden utes.
Earlier this year, the Organised Crime Squad and NSW Crime Commission formed Strike Force Franklyn to investigate a syndicate involved in the supply of cocaine on Sydney's Northern Beaches.
As part of their inquiries, Strike Force Franklyn detectives attended a residential apartment block on Pitt Street, Sydney, early yesterday (Thursday 18 December 2014) afternoon.
Shortly after arriving, detectives stopped a 39-year-old man as he attempted to leave the apartment block's car-park in a Holden utility. A search of the vehicle resulted in officers locating close to $50,000 in cash inside a bag which was sitting inside the vehicle's cabin, alongside the driver.
A further search of the ute resulted in police finding a magnetically operated hidden compartment under the ute's tray. Inside the compartment, police found approximately $1.7 million in cash.
A second Holden ute, which was parked nearby, was also searched. It too had been fitted with a magnetically operated hidden compartment, located under the ute tray. Around $1.6 million in cash was located in the compartment.
Following the vehicle searches, detectives executed a search warrant inside a unit within the apartment block. Inside, they found scales, plastic bags, electronic devices and close to $14,000 in cash.
Following the searches, the 39-year-old man was arrested and taken to Sydney City Police Station where he was charged with two counts of knowingly dealing with the proceeds of crime. He was refused bail and is scheduled to appear in Central Local Court today (Friday 19 December 2014).
The Commander of the Organised Crime Squad, Detective Superintendent Scott Cook, said his officers were committed to doing everything they can to smash organised crime syndicates.
"Rest assured, the Organised Crime Squad will continue to hunt down those engaged in organised crime," Det Supt Cook said.
"As part of our suite of strategies, we remain closely focused on money laundering.
"This is an effective tactic that allows us to stifle the cash-flow of these criminal enterprises, and hit the pockets of all the greed-driven parties who extract profit from other people's misery."