NZ Police Seize Millions From Drugs Dealers and Gangs

March 9, 2016 New Zealand Finance

New Zealand taxNew Zealand police have seized millions worth of assets and cash from individuals and companies associated with criminal activity and drugs.

According to a statement released by the Minister of Corrections and Police Judith Collins the New Zealand police have seized approximately NZD 382 million under the Criminal proceeds Act since 2009.

Current regulations allow the police to retain, or freeze, assets and funds believed to be proceeds of crime, even if no criminal convictions have been laid.

Since 2009 a total of NZD 382 million in asset and funds has been frozen, and an additional NZD 85 million has been forfeited.

Approximately 96 percent of the forfeited assets, and 86 percent of frozen assets, were connected to organized crime or drugs.

In total 110 residential properties, 8 commercial properties, 4 farms, and 12 lifestyle blocks were frozen or forfeited.

Further, 485 bank accounts worth a total of NZD 26.9 million, 234 cars, and 97 motorbikes were seized.

Photo by yum9me