Police have seized $176,000 in cash, precious metals, and cryptocurrency in raids across Queensland properties linked to a disability service provider they believe was operating as a “fraud syndicate”.
A fraud taskforce raided five business and residential properties across Brisbane, Cairns, and North Queensland in April, although authorities suspect the organisation might also have illegitimately obtained an additional $5.02 million in gold, silver and funds.
The business was first flagged by the National Disability Insurance Agency (NDIA) in November, when the agency identified several claims made to the National Disability Insurance Scheme (NDIS) for services and support that had never been provided.
The taskforce, comprised of agencies including state and federal police, tracked the claims back to the person who had lodged them and created the suspected fraudulent business.
During the raids last month, officers seized $94,000 in cash they believed was linked to the fraud, as well as an estimated $82,000 in gold and silver sovereign coins, and a cryptocurrency wallet.
Police also took materials for forensic analysis, including cloud-based data and physical electronic devices and documentation.
The seizures were a warning to anyone seeking to exploit government support systems, Australian Taxation Office assistant commissioner Simon Hellmers said.
The Queensland Crime and Corruption Commission had restricted the business before the raids.
The QCCC had been trying to recover more than $5 million in assets that it alleged had been criminally acquired by the syndicate.
QCCC head of crime Sharon Loder said the recovery investigation restored public money to much-needed services.
“Recovery action also undermines the incentive for engaging in serious crimes for profit,” Loder said.
A statement from the Australian Federal Police said investigations into the “fraud syndicate” were continuing, and charges had yet to be laid.
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