Police have charged a man over the alleged organised theft and re-sale of hardware equipment in Sydney.

In February 2011, a major hardware chain notified police after they discovered many of their products were being sold by an online seller at an extremely low price.

Police from Redfern Region Enforcement Squad (RES) formed Strike Force Boxes to investigate the matter.

Their inquiries revealed that a 27-year-old man was allegedly using a sophisticated method to pay much lower than advertised prices for hardware equipment at the stores throughout Sydney, before selling them online at a much cheaper rate.

In April this year, the man was arrested in Victoria after allegedly committing the same offences in Melbourne. On 16 May this year he was sentenced to four months imprisonment for the offences.

Since his arrest NSW Police executed two search warrants at the man’s home and a storage unit, both in Bexley.

Today (Wednesday 7 September 2011), the man was again arrested by Victoria Police after being released from custody.

Extradition was granted and he was escorted to Sydney where he was subsequently charged with knowingly deal with proceeds of crime.

He was refused bail to appear at Central Local Court tomorrow (Thursday 8 September 2011).