Police seize $35m assets, minister says

Photo / NZ Herald

Police have seized proceeds of crime assets worth an estimated $34.6 million since December, Parliament was told today.

The Criminal Proceeds (Recovery) Act came into force in December and Police Minister Judith Collins said that since then police had investigated 201 cases.

"That has resulted in an estimated $34.6m worth of assets being made subject to restraining orders under the Act," she said.

"Those assets are now in the hands of the Official Assignee, awaiting further legal orders, with the objective of confiscation."

Ms Collins the assets included $6 million in cash and bank accounts, 36 residential and commercial properties worth an estimated $15.8m, eight farms, orchards and lifestyle blocks worth an estimated $10.5m, 44 cars, vans and four-wheel drive vehicles worth an estimated $852,000, and 24 motorcycles worth an estimated $423,000.

Ms Collins said the Government planned to use the money to expand alcohol and drug treatment and extra law enforcement initiatives to fight organised crime groups.

The Act was introduced to give the police new powers of seizure and confiscation, aimed mainly at organised criminal gangs involved in the illegal drug trade.

- NZPA