Luxury homes, cars worth $4.4 million seized by federal police in drug raid

A luxury car and two properties are among the millions of dollars worth of assets seized by federal police in the massive Operation Ironside raid.

About $4.4 million worth of assets are said to be associated with a Sydney man who was charged with importing cocaine last June.

Federal police seized two properties in NSW and Queensland, a Mercedes-Benz vehicle and six bank accounts under an injunction issued on August 4.

Stephen Fry, AFP’s Criminal Assets Seizure Commander, said the extravagant criminal lifestyle was short-lived.

“This case is one of many ongoing issues under Operation Ironside as AFP and state law enforcement partners continue to battle the profit motives of the criminal business model,” he said. rice field.

“No individual or criminal group is beyond the reach of the Task Force.”

Operation Ironside is a large-scale police investigation into serious transnational organized crime allegedly involved in a huge drug importing and manufacturing operation.

Funds obtained from the sale of assets are placed in a Forfeited Assets Account maintained by the Australian Financial Security Authority.

Fry said the funds could be distributed by the attorney general to crime prevention or diversion programs across the country.

“AFP is relentlessly pursuing all legal means to deprive criminals of their ill-gotten wealth, deprive criminals of their profits and disrupt future criminal activity,” he said.