Police freeze more assets in Yan case

About $40 million of property allegedly linked to Yan was restrained by police last year. Photo / Brett Phibbs

Further assets allegedly linked to Auckland businessman William Yan have been frozen by the High Court at the request of the police.

The freshly-frozen assets - which include properties with sea views on Auckland's North Shore - are over and above the millions of dollars of assets allegedly associated with Yan already restrained by authorities.

Yan's luxury apartment was raided in August last year because of his alleged involvement in money laundering.

About $40 million of property was restrained by police at the time, including the apartment in Auckland's Metropolis building, a Mercedes-Benz car, and shares and bank accounts.

No charges have yet been laid against the businessman, who is also known as Bill Liu, Yang Liu and Yong Ming Yan.

Earlier this month, Chief High Court Judge Geoffrey Venning said that unless police applied for the first set of assets to be forfeited to the Crown by next April, the freeze over them would thaw.

Last month, the police obtained further restraining orders over assets from the High Court, which was the subject of a short scheduling hearing this morning.

Whether or not restraining orders over all the assets should continue is due to be argued in June next year.