Two young men accused of dealing with tens of millions in criminal proceeds as part of an international investment scam are yet to see the evidence against them as their case comes before a New South Wales court.
Jiachen Jiang, 20, and Wiezhe Huang, 19, faced Sydney’s Downing Centre Local Court on Thursday.
Both had their matters adjourned until February as their lawyers told the court they are yet to receive evidence briefs.
The pair, arrested at their Pyrmont apartment in October, remain on bail.
Both are charged with recklessly dealing with proceeds of crime as part of an investigation triggered by a notification from the U.S. Secret Service about an Australian link to an international investment scam primarily targeting Americans.
Huang is alleged to have recklessly dealt with criminal proceeds totalling more than $16.7 million, while Jiang allegedly dealt with more than $11.7 million.
Two other men, allegedly involved at a higher level in the same scheme, faced court on Wednesday after being arrested while awaiting one-way flights to Hong Kong in November.
Han Xiao, 24, had his bail review denied and remains behind bars on one count of dealing in proceeds of crime worth $10 million or more, which carries a maximum 15 years’ imprisonment.
Zimo Tang, 27, faces the same charge and had his case briefly mentioned in court.
The four men, all Chinese nationals, are accused of running a sophisticated investment scam involving social engineering, dating and employment sites, and messaging platforms to gain the trust of victims who were directed to fraudulent and legitimate foreign exchange and cryptocurrency investment platforms, Australian Federal Police said when announcing the arrests.
Their investments were maliciously manipulated to show a false positive return, the AFP alleged.
