The Australian Federal Police (AFP) yesterday said it had carried out its “largest restraint of assets” ever when it raided a Chinese-Australian crime ring in Sydney this week. The group allegedly ran a massive money laundering scheme, operating as an “underground bank” by allowing organised crime gangs to shift proceeds between accounts and bypass international financial systems. And when we say massive, reports say it’s moved an estimated $10 billion offshore, with the AFP claiming the group used the profits to “live large”, including high-end watches that “cost more than what an individual would earn in a lifetime,” said Assistant Commissioner Kirsty Schofield. Nine people were arrested, and $150 million of assets were seized on Wednesday, and the AFP says the investigation’s still ongoing, with more assets set to be taken.