Cars, gold and jewelry seized in criminal assets heist
Two sports cars worth more than $1 million are among the possessions and designer accessories seized as part of an investigation into unexplained assets.
The joint action by police and the NSW Crime Commission followed the introduction of strict Proceeds of Crime Protection laws, which effectively forced suspected criminals to prove the items were not purchased with ill-gotten gains.
Officers searched a number of properties in Sydney’s inner west and southwest on Thursday, seizing cars and items worth a total of $7 million following an investigation into gangs operating in western Sydney.
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At a property in Padstow, police seized more than a dozen luxury handbags from brands including Hermes, Chanel and Louis Vuitton, as well as several designer “men’s bags” and high-end watches.
A 2021 Lamborghini Aventador sports car – worth about $1 million – was seized from a property in Drummoyne, while a 2018 McLaren coupe was seized along with other cars in Bankstown.
Police also found gold bars worth an estimated $80,000 in Yagoona.
Electronic devices and documents were confiscated for further examination.
The New South Wales government passed legislation earlier this year that will allow police to more easily seize assets suspected of being the proceeds of crime.
These regulations effectively reversed the obligations of alleged crime bosses, who would have to prove that the property was purchased with legitimate income.
Police do not have to charge suspects with a specific crime in order to seize property or freeze other assets.
NSW Organize Crime Squad commander Peter Faux said the new powers meant police could take tougher action against organized criminals.
“The big players tend to enjoy the wealth while keeping their heads down and their hands clean, but now we have the power to take them to court to show us how they made their money – something that will be difficult for many of them,” he said on Friday.
