$382 million worth of criminal assets seized by Police

Cash and assets worth around $382 million have been seized under the Criminal Proceeds (Recovery) Act which enables Police to confiscate the proceeds of crime, Police Minister Judith Collins says.

The Criminal Proceeds (Recovery) Act allows Police to seize assets believed to be the proceeds of crime with or without a criminal conviction.

Funds recovered under the Criminal Proceeds (Recovery) Act are used to fund law enforcement initiatives.

“Criminals and gangs are making millions of dollars a year peddling drugs and committing crimes. This government is serious about taking away the profits of crime and putting criminals out of business.

“Police have been extremely successful in investigating and seizing the dirty money of criminals and gangs since the government passed this legislation.

“A total of $382 million worth of assets has been restrained with $85 million forfeited under the Act since it came into effect on 1 December 2009.

“By value, 96% of asset forfeitures and 86% of asset restraints to date have been linked to drugs and/or organised crime.

“Last week I announced that the Gang Intelligence Centre is now compiling information held by government about gangs and gang members and feeding that intelligence into Police, Customs and other agencies as they tackle organised crime.

“We will use all of the tools at our disposal to remove the threat of organised crime and gang harm- seizing the assets these criminals need to fund their crime is a very good place to start,” says Ms Collins.

Notes – assets forfeited since 2009 include:

• 110 residential properties worth an estimated $34.5 million
• 485 cash/bank accounts worth an estimated $26.9 million
• 4 farms/orchards worth an estimated $7.6 million
• 234 cars and 97 motorcycles, worth an estimated $5.6 million
• 12 lifestyle blocks worth an estimated $3.9 million
• 8 commercial properties/businesses worth an estimated $4.3 million
• Other assets worth estimated $2.2million