QLD Man Forfeits $4.5M Assets in Crime Probe

The AFP-led Prison Property Confiscation Taskforce (CACT) has secured the forfeiture of greater than $4.5 million value of belongings, together with a Queensland waterfront mansion, luxurious automobile and Bitcoin, after figuring out them as suspected proceeds of crime.

The District Court docket of Queensland final month (April, 2025) ordered the belongings be forfeited to the Commonwealth underneath the Proceeds of Crime Act (Cth), following the decision of Operation Gouldian, an investigation into stolen cryptocurrency and cyber hacking.

A CACT investigation started in September, 2018, after AUSTRAC was contacted by legislation enforcement companions in Luxembourg relating to suspicious Bitcoin transactions, linked to a Queensland man beforehand convicted of hacking a gaming firm in america.

The investigation recognized suspected hyperlinks between the person and the theft of 950 Bitcoin from a French cryptocurrency trade in 2013.

No felony costs eventuated; nonetheless, the Commonwealth’s proceeds of crime legal guidelines enable the CACT to restrain suspected proceeds of crime, no matter whether or not there’s a associated felony prosecution.

In July, 2023, previous to the execution of AFP search warrants on the waterfront dwelling in Beachmere, Queensland, the CACT obtained restraining orders over the house, a 2019 black Mercedes Benz sedan and 24.99454224 Bitcoin, on the premise it was affordable to suspect they had been the proceeds of crime, noting they weren’t commensurate with identifiable respectable earnings.

In April, 2025, the CACT efficiently utilized to the court docket to have the belongings forfeited.

The present estimated worth of the belongings is greater than $4.5 million and income from their future sale will probably be deposited to a particular goal fund that helps crime prevention and legislation enforcement-related measures.

AFP Commander Jason Kennedy stated the AFP and its companions remained dedicated to a key technique of concentrating on and confiscating the alleged proceeds of crime to disrupt criminals, together with these concerned in cybercrime.

“The Proceeds of Crime Act provides law enforcement agencies with unique powers to restrain and forfeit instruments and proceeds of crime,” Commander Kennedy stated.

“Criminals are pushed by greed on the expense of sincere Australians and companies who’re shedding their hard-earned cash to cyber criminals.

“The profits derived from criminal activities are also often used to fund further criminal acts, which is why the AFP works closely with our partners in the CACT to target the proceeds of crime and ensure they are re-invested in the community.”

Since July 2019, the CACT has restrained greater than $1.2 billion in felony belongings, together with homes, automobiles, yachts, cryptocurrency, tremendous artwork and luxurious items. 

The CACT – which brings collectively the assets and experience of the AFP, Australian Border Pressure, Australian Taxation Workplace, Australian Prison Intelligence Fee (ACIC) and AUSTRAC – was completely established in 2012 as a proactive and revolutionary method to hint, restrain and in the end confiscate felony belongings.

The extremely expert members of CACT are situated Australia-wide and comprise police, monetary investigators, forensic accountants, litigation attorneys and associate company specialists.

The Commonwealth’s proceeds of crime legal guidelines present in depth instruments for the restraint and forfeiture of proceeds and devices of crime, in addition to monetary penalty and unexplained wealth orders, based mostly on a civil customary of proof.  Whereas the CACT litigates issues within the courts, restrained belongings are managed on behalf of the Commonwealth by the Australian Monetary Safety Authority (AFSA). 

On the conclusion of profitable authorized proceedings, confiscated belongings are then liquidated by AFSA, with the proceeds positioned within the Commonwealth Confiscated Property Account (CAA). These funds can then be distributed by the Lawyer-Common to learn the neighborhood via crime prevention, intervention or diversion applications regarding the unlawful use of medicine or different legislation enforcement initiatives throughout Australia.