(CNN) Australian police have charged a man as part of an ongoing investigation into an alleged transnational gambling syndicate placing corrupt bets on international table tennis tournaments.
Detectives from the New South Wales State Crime Command's Organised Crime Squad executed nine search warrants across seven different locations in Australia and arrested a 40-year-old man on Wednesday, according to a statement.
During the searches, detectives seized $9,087 (AUD $12,000) in cash, documentation and electronic devices, according to the Organized Crime Squad.
'Strike Force Brombal' was established in June -- made up of detectives from the Organised Crime Squad with assistance from Sport Integrity Australia -- to "investigate a transnational gambling syndicate allegedly placing corrupt bets on international table tennis tournaments," said the police statement.
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The 40-year-old man was charged for the use of "corrupt conduct information to bet" and "knowingly deal with proceeds of crime intent to conceal," added the statement.
Police said the man had received information relating to fix table tennis matches in Europe. "Corrupt bets were subsequently placed on the matches, resulting in winnings valued at (AUD) $500,000)," equal to more than $378,000 in US dollars.
After being granted bail, the man is due to appear at Newcastle Local Court on January 28, 2021.
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The investigation is continuing, according to the release.
CNN has reached out to the International Table Tennis Federation and Sport Integrity Australia for comment.