More than $8.5 million worth of jewellery, cars and other luxury items have been seized by federal police with two Chinese nationals allegedly using the proceeds of crime to buy property in Australia.

Officers from the Australian Federal Police seized the luxury goods – which included boxes of what appeared to be Penfolds wine – in Sydney, Melbourne and the Gold Coast on Tuesday and Wednesday as part of an investigation into offshore funds allegedly being laundered in Australia.

Police believe two Chinese nationals travelled to Australia three years ago to establish shell companies to transfer proceeds of crime.

They are then alleged to have used the money to purchase residential and development property in Australia.