Currency

Alleged money laundering ring funnelled cash into locked crypto wallet


Mr Dixon wrote to Tether for more information on Chang Jiang’s transaction history and its accounts, yet he had not received a response as of January 18.

Mr Dixon estimated Chang Jiang had about $3 million of cash in the bank, identifying accounts held with ANZ, Bendigo & Adelaide and Macquarie. Safes at storefronts he had investigated so far stored about $440,000 in cash.

The administrator again stressed the AFP had confiscated the company’s financial records and was yet to provide him with a copy, so he cannot determine exact numbers or investigate whether Chang Jiang traded while insolvent.

Employees had claimed $163,400 in unpaid wages and other entitlements, although this number is expected to rise as more staff come forward, Mr Dixon warned.



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