Two Perth men accused of trafficking drugs have had to forfeit more than $640,000 in cash and luxury watches worth about $90,000, with the assets alleged to be the proceeds of crime.
A cardboard box filled with wads of cash, along with luxury Swiss watches from Rolex and Audemars Piguet, were seized as part of a Federal Police investigation in September 2022.
The cash and watches, along with 5.7kg of methamphetamine were uncovered in raids of a warehouse and hotel rooms in Malaga and Innaloo linked to the two suspects.
The men were charged with drug trafficking and money laundering and remain before the courts.
The AFP-led Criminal Assets Confiscation Taskforce investigated the source of the money and watches before applying to the state’s District Court to have them restrained
Once forfeited to the Commonwealth, assets are sold and liquidated, with the proceeds put into an account managed by the Official Trustee.
These funds can be distributed by the Attorney-General to benefit the community through crime prevention measures, diversion programs or other law enforcement measures across Australia.
