Police seize $11 million worth of original art, Rolex watches and a yacht as part of alleged crime syndicate bust

Police have seized over $11 million worth of art, fine jewellery, Rolex watches and a luxury yacht as part of a major organised crime syndicate bust.

The Australian Federal Police-led Operation Fuji targeted a large Middle Eastern crime syndicate that allegedly had access to guns, imported drugs and extensive wealth.

The crime group is also accused of engaging in "threats to life," the AFP said.

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The ongoing investigation uncovered drug import plots organised by inmates in prison.

A taskforce then looked into how syndicate members got their hands on luxury items.

The Supreme Court of Victoria approved the Criminal Assets Confiscation Taskforce (CACT) to seize the assets after the court found it was "reasonable" to suspect they were proceeds of crime.

Some of the seized items include an $800,000 luxury yacht, five original paintings by artists including Brett Whiteley, Fred Williams and Adam Cullen, Rolex and Cartier jewellery worth $75,000 and 11 properties around Melbourne worth $8.7 million.

"These assets, and revenue from their sale, will be added to a special purpose fund that supports crime prevention and law enforcement-related measures," the AFP said in a statement.

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AFP Detective Superintendent Scott Raven said the seizure of $11 million worth of goods was "key to disrupting and deterring serious organised crime across the country".

"The CACT's investigators, forensic accountants and litigation lawyers will ensure people justify how they accumulate their wealth and target any assets that are not linked to lawful sources," Detective Superintendent Raven said.

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"This prevents the bankrolling of further criminal activity and makes crime less financially lucrative.

"Money remains the lifeblood of organised crime and cutting off the flow of ill-gotten finances helps prevent further harm to the community by cutting off revenue and motivation."

CACT has seized more than $1.2 billion in criminal assets since July 2019, the AFP said.

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