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.
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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
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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.
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