Lawyer Charged in $25M Laundering Case

0:00It's April 22, I'm Cory with the story, and this is Sydney News today, local news powered by AI. Detectives just charged a 32-year-old senior partner at a Sydney law firm with helping a massive criminal syndicate launder over $25 million through property deals. Eric Tong from Rosemond Partners faces charges for joining a criminal group, deceiving for financial gain, and dealing with crime proceeds. This ties into the penthouse syndicate, accused of ripping off Australia's big banks for more than $250 million. The syndicate allegedly whirmed into banking, finance, property, and legal worlds, using corrupt insiders to pull off huge loan frauds. Police say Tang helped buy Sydney properties with dirty money, marking him as the first lawyer hit with charges in this probe called Shrike Force. Middleton. Earlier busts nabbed a former bank employee who set up nearly $10 million in fake business loans, and another broker linked to almost $100 million in bogus mortgages.

1:01Both cases are still grinding through courts, and families put up homes as veil security. Now, cops have locked down $95 million in assets like houses, cars, cash, and bling from syndicate suspects. 25 members face charges so far, and the financial crime squad bows to keep hunting pros who aid crooks. With Tang held without bail for now, expect more takedowns as this giant investigation rolls on. No one's profession shields them from the law.