Tweet Facebook Mail Two Chinese citizens who laundered more than $63 million in a sophisticated international operation have been jailed. Boliang Liu, 37, and Tao Zhou, 41, admitted dealing with millions of dollars suspected to be the proceeds of crime between July 2020 and October 2021. Liu operated a money remittance business where customers gave him cash that he received into numerous bank accounts he held under different names.
READ MORE: Police charge man over alleged $600,000 theft of Bluey coins When police arrested Liu at his home in October 2021, they seized a Porsche, Gucci bags, three luxury watches, Mike Tyson memorabilia and close to $1 million in cash. (Victoria Police) Each individual deposit was made in $10,000 transactions to avoid legal reporting requirements. Liu accepted the cash, made the deposits and then transferred the funds into his client's overseas bank accounts in exchange for a commission.
Zhou was the "money runner" for Liu and co-offender Wei Wang, who ran a similar remittance business, and received commissions from both men. Zhou collected cash from or on behalf of Liu and Wang, and then went to hundreds of ATMs to deposit the cash into multiple bank accounts. When police arrested Liu at his home in October 2021, they seized a Porsche, Gucci bags, three luxury watches, Mike Tyson memorabilia and close to $1 million in cash.
Zhou was found with $180,000 in cash, several bank cards, a Crown Casino membership card, computers and phones. In total, .