A professional money launderer whose criminal enterprise generated more than $120 million for customers must forfeit half a million to the Crown.
Musabayoufu Fuati and his co-offender, Daniel Hu, both served sentences of home detention for their crimes, which included laundering money for drug dealers, smugglers and fraudsters.
The pair used false identities and a network of disposable “money mules” to make $123 million in cash deposits over three years for their foreign exchange and money transfer businesses, which operated from an office on Auckland’s Queen St.
Now a judge has ordered that Fuati will permanently lose roughly $600,000, which police said were proceeds of his offending.
He and Hu were arrested in 2020, and the Commissioner of Police filed applications to restrain property and funds under legislation governing proceeds of crime.
The courts restrained multiple properties, proceeds of sales from luxury cars, about $140,000 in bank funds and $64,000 in cash.
NZ Herald
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The pair used false identities and a network of disposable “money mules” to make $123 million in cash deposits over three years for their foreign exchange and money transfer businesses, which operated from an office on Auckland’s Queen St.
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