Gang member forfeits $1.17 in assets from crime…

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Police say securing the forfeiture of $1.17 million in assets from a senior Mongrel Mob member found not guilty of money laundering represents a significant decision.A High Court judgment means Valentine Nicholas, from the gang’s Maketu chapter in Bay of Plenty, has to forfeit assets that include a forestry block and property.

The judgment come after two criminal trials in which Mr Holmes faced charges of money laundering. The first trial resulted in a hung jury, while second ended in Mr Nicholas being found not guilty.

Detective Inspector Paul Hampton says the High Court judgment is a reminder that the absence of a criminal conviction does not prohibit the successful forfeiture of assets under the Criminal Proceeds (Recovery) Act.



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