Gang member forfeits $1.17 in assets from crime…

blackpower-mongrelmob-600 (1)

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.

http://www.msn.com/en-nz/news/national/gang-boss-to-forfeit-dollar117m-in-assets/ar-BBvTtMD?li=BBqdg4K

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: