Victoria Police has charged 24 people with money laundering offences as part of an investigation into a large-scale Middle Eastern organised crime syndicate.

Police say 15 people will face the Melbourne Magistrates’ Court on Friday, with another eight to appear next week. Two people have already faced court.

The arrests follow a two-year investigation, believed to be linked to crime figure George Marrogi, who is currently serving a 32-year jail sentence for murder.

Last month Marrogi pleaded guilty to running a drug syndicate from jail.

Police allege the money laundering syndicate involved channelling funds, believed to be the proceeds of crime, through property, companies and high-end vehicles.

A 52-year-old man, who police allege was the head of the syndicate, has faced court on numerous charges, along with a 32-year-old woman.

Those who will face court on Friday include 13 men and two women aged between 23 and 59.

Victoria Police said 75 search warrants had been executed as part of the investigation, and more than $40 million worth of goods had been seized, including cash, firearms, a stolen Porsche and more than 35 kilograms of methylamphetamine, heroin and cocaine.

Some of those arrested face charges including making threats to kill and directing activities of a criminal organisation.

Victoria Police Assistant Commissioner Bob Hill said the arrests and property seizures caused major damage to the criminal syndicate.

“We will continue to target the assets acquired by these criminal groups through their nefarious ways,” he said.

Victoria Police worked in tandem with Australian Federal Police in the investigation which, it said, was active and ongoing.