The AFP-led Criminal Assets Confiscation Taskforce (CACT) has successfully secured the forfeiture of $641,980 in cash and luxury watches valued at approximately $90,000. These assets were seized by police during a drug trafficking investigation in Perth.
The investigation commenced after AFP criminal investigators executed search warrants at a warehouse and hotel rooms in Malaga and Innaloo in September 2022. These locations were allegedly linked to two men and yielded the discovery of about 5.7kg of methamphetamine, the cash, and the two luxury watches.
Following the seizure, the CACT investigated the origins of the assets and applied to the District Court of Western Australia under the Proceeds of Crime Act 2002 (Cth). The court approved the restraint and forfeiture of the cash and watches, with the consent of the two suspects involved.
The two men have been charged with trafficking a commercial quantity of methamphetamine and money laundering. Their cases are currently before the courts.
AFP Criminal Assets Confiscation Commander Allison Buck emphasised the importance of restraining criminal assets to prevent offenders from enjoying lavish lifestyles funded by illegal activities.
“Many law-abiding Australians are feeling the pain of cost-of-living pressures, but people who gain money illegally can buy properties or enjoy lives of luxury without the same financial restraints,” Commander Buck said.
“The AFP and its partners will ensure people are able to lawfully justify the wealth and assets they accumulate. The successful restraint and forfeiture of these assets is testament to the ongoing collaboration of AFP criminal and CACT investigators and litigators, who work hard every day to see the legal process through to completion. It is satisfying for our members to maximise their impact on the criminal environment.”
Australia’s proceeds of crime laws provide robust mechanisms for restraining both proceeds and instruments of crime, as well as financial penalty and unexplained wealth orders, based on a civil standard of proof. These laws can operate independently of any criminal prosecution and even in the absence of a related criminal investigation or prosecution.
The CACT combines the resources and expertise of the AFP, Australian Border Force, Australian Taxation Office, Australian Criminal Intelligence Commission, and AUSTRAC. Together, these agencies trace, restrain, and ultimately confiscate criminal assets.
Once forfeited to the Commonwealth, assets are liquidated by the Official Trustee in Bankruptcy. The proceeds are placed into the Confiscated Assets Account, managed by the Official Trustee on behalf of the Commonwealth. These funds can then be distributed by the Attorney-General to benefit the community through crime prevention measures, diversion programs, and other law enforcement initiatives across Australia.
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