An investigation into a multi-national pyramid scheme has led to New Zealand's largest-ever forfeiture.
It comes after the High Court approved a settlement between the New Zealand Police and Xiaohua (Edward) Gong, enabling the forfeiture of more than $70 million.
This figure includes a property in East Tamaki Heights and more than $68 million in cash.
It follows an investigation into suspicious funds deposited into New Zealand bank accounts between 2009 and 2016, which were identified as being profits from a China and Canada-based pyramid scheme.
Gong is based in Canada and the money was transferred to New Zealand to conceal its source.
Detective Inspector Craig Hamilton says the settlement is a "fantastic result".
"This is the largest forfeiture of proceeds of crime ever secured in New Zealand and it reflects the expertise of New Zealand Police when investigating complex multi-jurisdictional money laundering at the most serious level."
He says New Zealand will "never" be a safe haven for criminal profits.
"We are committed to making our country the hardest place for criminals to do business, and we will not tolerate those who operate in other parts of the world hiding their illicit proceeds here."
