High-profile Queensland lawyer Michael Bosscher has been charged over his alleged involvement in a $4.5 million money laundering operation.
It comes after the Australian Federal Police (AFP) arrested and charged Mr Bosscher and 67-year-old Gold Coast man Richard Franks over the alleged involvement in a syndicate dating back to February 2021.
Mr Bosscher, 53, was arrested by the AFP and charged with conspiring to deal in proceeds of general crime, allegedly involving more than $1 million.
Facing the Brisbane Magistrates Court, Mr Bosscher was granted bail on the grounds he has no contact with Mr Franks and seven other people, and that he report to a police station twice a week.
Mr Franks, a Gold Coast training executive, is alleged to have opened fraudulent bank accounts in the name of clients at his consultancy business without their knowledge and has been charged with conspiring to deal in the proceeds of general crime worth $1 million or more.
The Helensvale man has also been charged with 29 counts of conducting transactions so as to avoid reporting requirements.
He was granted bail in the Southport Magistrates Court under strict conditions that he surrender his passports and have no contact with Mr Bosscher or the complainants.
Police allege Mr Bosscher supplied millions of dollars in suspected proceeds of crime that were deposited into the fraudulent accounts in an attempt to avoid detection by authorities.
AFP officers carried out search warrants in Helensvale, Graceville, Bardon and Brisbane City on Monday.
It is alleged they found $70,000 in safes hidden under stairs at a Bardon premises in Brisbane and $160,000 cash in a safe at the Helensvale man's home on the Gold Coast.
During Mr Franks' bail hearing, Magistrate Dzentia Balic told the court she was concerned about his "long and strong relationship with Mr Bosscher for many years, [which] seems to be personal and professional".
"The seriousness of the offences are quite serious," Ms Balic said.
The maximum penalty for the offence is 25 years' imprisonment.
Mr Franks will return to court on February 6.
