More than $5 million worth of Melbourne real estate has been frozen as part of an investigation into offshore funds allegedly being laundered in Australia by Chinese nationals.
Australian Federal Police restrained residences in Glen Waverley and Southbank, as well as a commercial property in Oakleigh South on Thursday. The combined value of the properties is $5.2 million.
The operation follows separate restraint action and search warrants that were executed in Melbourne and Sydney on November 14 and 15.
In those raids, more than $8.5 million worth of jewellery, cars and other luxury items were seized by federal police.
Police allege two Chinese nationals used proceeds of crime to buy property in Australia.
Investigators believe they travelled to Australia three years ago to establish shell companies to transfer the money. They are then alleged to have used the funds to purchase residential and development property in Australia.
Chinese authorities believe the money was raised by defrauding investors in China.
In 2016, the Chinese Ministry of Public Security asked the AFP to try to identify the individuals involved in the alleged money laundering scheme.
Investigations into the individuals involved are ongoing.
Jewellery, vehicles and properties was seized by the Australian Federal Police on November 14 and 15, as part of an investigation into offshore funds allegedly being laundered in Australia by Chinese nationals.