Cannabis bust: Police seize $2.4m in property and shares linked to Tribal Huk gang

Property and shares valued at more than $2.4m and linked to a Tribal Huk gang member have been restrained by police in a cannabis bust.

The operation targeted the sale and supply of cannabis in Hamilton.

The assets were restrained under the Criminal Proceeds (Recovery) Act 2009 following an investigation by police's Waikato/Bay of Plenty Asset Recovery Unit.

The assets restrained are linked to a senior Tribal Huk gang member and an associate of that person.

Between 2017 and 2019, police conducted eight search warrants at addresses linked to the gang. On each occasion cannabis was located and gang members or associates arrested and charged with offences related to the sale and supply of the drug.

Property and shares valued at more than $2.4m and linked to a Tribal Huk gang member have been restrained by police.

"Organised crime is all about money, and police is focused on targeting the proceeds of that crime," said Detective Senior Sergeant Keith Kay, the officer in charge of the unit.

"When criminals are deprived of their ill-gotten assets this also impacts on their influence in the community."

Nationally, the Police Asset Recover Unit has taken control of assets worth an estimated value of $124 million.

Assets taken included funds in bank accounts, real estate, cash, vehicles, e-currency and jewellery.

Tribal Huk gang members had a long association and involvement of the sale, supply and distribution of cannabis in the Waikato region, Kay said.

"Their activities are exploiting vulnerable people in our communities. They are causing harm to individuals and communities and profiting from it."

Around 80 per cent of all restrained assets stemmed from drugs, gangs and organised crime.