Millions seized from organised crime groups

File photo / NZH

Police have seized $35 million worth of goods since a new law came into effect in 2009.

In the latest Ten One magazine, police said the assets were "restrained" under the Criminal Proceeds (Recovery) Act.

Of the $35m, $21m was linked to organised crime groups.

Restraining property under the Act is usually done before it is forfeited to the Crown although the Act also allows property to be forfeited without being restrained.

Police said property worth $5.1m had been forfeited under the Act.

Last month nearly $2.5m in drug money was forfeited to the Crown.

The money was found by detectives searching a foreign exchange shop in central Auckland in 2006.

It was restrained under old law before the new Act came into force but was forfeited to the Crown at a hearing in the High Court in Auckland last month.

Police said the new law allowed property to be forfeited without a criminal conviction.

The police national manager of the Financial Crime Group, Superintendent Peter Devoy, said it was satisfying for police to see the new Act working.

"This is just the beginning. There will be a lot more to come," he said in Ten One.

- NZPA