Police have made a major arrest during an early morning raid as part of investigations into alleged money laundering and other illicit activities in Sydney's CBD.
Heavily armed officers executed search warrants at luxury waterfront units in Pyrmont and Barangaroo early Wednesday morning as part of an investigation into an alleged criminal syndicate operating in the CBD.
Dramatic footage obtained by Nine News shows police storming into a Pyrmont unit at an apartment complex on Pirrama Road, where they arrested a 34-year-old man.
Wearing a T-shirt, shorts and hiding his face with a jumper, the man was escorted from the complex in handcuffs as shocked neighbours out on their early morning walks watched on.
He was taken to The Rocks Police Station, where he was charged with knowingly dealing with the proceeds of crime with intent to conceal.
The man was refused bail to appear in Central Local Court later on Wednesday.
A man (pictured) has been charged with money laundering after he was arrested at a Pyrmont unit during an early morning raid
Police executed further search warrants at Barangaroo and Chifley Tower in the CBD.
Officers allegedly seized cocaine, cannabis, documentation, and other items for further forensic examination during the raids.
'This investigation is still underway, tv kopen samsung there are more facets and this is just the first stage,' Organised Crime Squad Commander Detective Superintendent Rob Critchlow told reporters on Wednesday afternoon.
'What we're alleging is that members of certain groups in Sydney are providing money to people to facilitate the the laundering of those proceeds into other activities such as buying property, luxury watches, hiring motor vehicles and renting very expensive premises in Sydney to hide the origin of those funds.'
'This investigation is fascinating as it shows the depth and scale of the movement of monies using business structures and other methods to hide the unlawful gains.'
Heavily armed police stormed the Pyrmont unit around 6.30am on Wednesday as part of ongoing inquiries into an alleged criminal syndicate operating in the Sydney CBD
Organised Crimes Squad detectives established Strike Force City in July to investigate the activities of a syndicate allegedly involved in laundering large amounts of cash through several businesses located in Sydney's CBD.
Their inquiries uncovered a syndicate allegedly using cash to fund the purchase of investment properties and operating costs of other associated businesses.
Detective Superintendent Critchlow said a vehicle stopped in August resulted in a bag containing $150,000 in cash and other evidence being seized.
Extensive investigations led to the search warrants conducted on Wednesday.
Police will allege the man arrested was previously known to police and has 'interesting connections', including previous links to the Brothers for Life gang.
The man (pictured being escorted from the Pyrmont apartment complex) will face Central Local Court on Wednesday afternoon
'Today's search warrants uncovered some mobile telephones, some documents and records,' Detective Superintendent Critchlow said.
'A number of people we'll speak to in the next few weeks should be very concerned about what we found today.'
Police will allege the man arrested has a number of associations with the criminal element of Sydney, which will be investigated further.
'There are also other allegations in this investigation in relation to the misuse of Covid vaccination certificates and forgery of official documents,' Detective Superintendent Critchlow added.
'This inquiries will continue and we certainly seek the the public's assistance in relation to this.'