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AFP restrains $4.44 million in Operation Ironside investigation

10 August 2022, 7:04am
Media Release

AFP restrains $4.44 million in Operation Ironside investigation

Editor’s note: Images of the NSW property and audio grabs from AFP Commander Stephen Fry are available via Hightail.

The AFP-led Criminal Assets Confiscation Taskforce (CACT) has restrained an estimated $4.44 million in assets as part of an Operation Ironside investigation.

The AFP allege that the assets are linked to a Sydney man, who was charged in June, 2021 with the unlawful importation of a border controlled drug, namely cocaine, contrary to section 307.1(1) of the Criminal Code (Cth).

The restraining orders, made on 4 August, 2022 are for two properties in NSW and QLD, one Mercedes-Benz and six bank accounts.

AFP Commander Criminal Assets Confiscation Stephen Fry said the AFP-led Criminal Assets Confiscation Taskforce delivers maximum impact to the criminal environment by depriving organised crime groups of the benefits of their crimes.

“The AFP is relentless in pursuing every legal avenue to deprive criminals of their ill-gotten wealth, taking the profit out of their crimes and disrupting future criminal operations,” said Commander Fry.

“This case is one of many ongoing matters under Operation Ironside, where the AFP and state law enforcement partners continue to combat the profit motivations of the criminal business model. 

“No person or criminal group is beyond the reach of the taskforce. The lavish criminal lifestyle is short lived. We will take away the proceeds of your crimes, including your million dollar properties, luxury vehicles and funds in any bank accounts.”

The funds derived from the sale of assets ultimately confiscated by the courts are placed into the Confiscated Assets Account, which is managed by the Australian Financial Security Authority (AFSA) on behalf of the Commonwealth.

These funds can then be distributed by the Attorney-General (as Minister responsible) to benefit the community through crime prevention, intervention or diversion programs or other law enforcement initiatives across Australia.

The CACT brings together the resources and expertise of the AFP, Australian Taxation Office, Australian Criminal Intelligence Commission, AUSTRAC and Australian Border Force. Together, these agencies trace, restrain and ultimately confiscate criminal assets.

The initial media release mentioning the man’s alleged involvement in the importation is located on the AFP website. He is described as a ‘separate 40-year-old Sydney man’ at the end of the release.

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