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The Herald Sun reported that a source revealed that the actual controller of the "Yangtze River Exchange" will defend against the accusations.
The source also said that the "Yangtze River Foreign Exchange Exchange" is a legal enterprise founded by Australians, not a money laundering organization as described by the police.
In October last year, the Federal Police launched raids on Changjiang Exchange stores across Australia, arresting a number of people involved and seizing tens of millions of Australian dollars worth of property.
Police said that the "Yangtze River Exchange" is suspected of laundering money for criminals, and the amount involved is as high as 230 million Australian dollars.
(Image source: Herald Sun)
The Herald Sun reported that the controller of the Yangtze River Exchange is 37-year-old Zhou Chen, who was released on bail last November and can return to his home in Balwyn, but must wear electronic ankle cuffs.
Police said Zhou Chen's mansion was worth $10 million and that the money to buy the property was the proceeds of crime.
Tax returns shown in court show that Zhou Chen's income in 2022 was just $49,400.
(Image source: Herald Sun)
The Herald Sun reported that the Yangtze River Exchange conducted more than 10 billion Australian dollars in foreign exchange transactions in just two years, and the seven suspects arrested were all accused of money laundering for an organized crime group. But a source said Zhou Chen plans to plead to the charges.
"They're just some legitimate businessmen driving Mercedes. If you're going to talk to a multi-millionaire, it's impossible to just drive a Toyota or a Hyundai to an appointment. ”
"Changjiang Currency Exchange is a legal enterprise founded by Australians, and most of its customers are Australian Chinese and Chinese citizens, and they are not international criminal gangs."
(Image source: Herald Sun)
The source also said that one of the stores in the Yangtze River exchange is near the headquarters of the federal police, and that "if you really want to launder money, you can't be so high-profile." "You're not going to set up a store in a place like that, and you're not going to put up a huge sign. If you're a criminal, what's the point of setting up shop next to the police headquarters? ”
"No one will be so stupid, and people who can do 10 billion business will not be so stupid."
(Image source: Herald Sun)
The Herald Sun reported that the Yangtze River Exchange was accused of transferring a $100 million stolen money from a "pig killing" scam in the United States.
Federal police claim that Changjiang Currency Exchange received a $10 million commission for the transfer of the stolen money.
Federal police also said Zhou Chen took $6.7 million in cash from the Yangtze River Exchange.
In response to the police's reference to private jets, the source responded: "They pay $800 per person for each private jet flight, which is cheaper than Qantas business class or even economy class in peak season." "Traveling by private jet is purely for commercial purposes, and they often fly on private jets that would otherwise be empty."
(Image source: Herald Sun)
The Herald Sun reported that the source also pointed out that there is a connection between the "Yangtze River Exchange" and the Chang Jiang International Express, "The Yangtze River Exchange is quite high-profile and very famous in the Chinese community in Australia." ”
Regarding the four arrested Australians, the source noted: "They all grew up locally, they all went to Camberwell Grammar, Balwyn High School and McKinnon College, and one of them owns a fish and chip shop." ”