Police of Waikato, New Zealand has seized crypto worth 6.7 million New Zealand dollars (4.2 million US dollars) from the 31-year old software programmer, allegedly Jaron David McIvor; they also seized 1.1 million New Zealand dollars (700,000 US dollars) in fiat money. This happened in the framework of the criminal process known as Criminal Proceeds Recovery Act (CPRA).
CPRA is a civil process whereby a high court judge has to decide if someone has accumulated wealth and profits as a result of criminal activity. If this is the case, the judge may order the freezing and confiscation of any assets in connection with the alleged criminal activity; New Zealand police suspect that McIvor is involved in money laundering and it was alleged that McIvor obtained roughly $2 million from the streaming site, which was allegedly deposited into his bank accounts from international wire transfers, PayPal, and Stripe.
“This outcome reflects the importance of these international partnerships and also demonstrates the capability of our investigators to prevent and respond to cyber-crime and money laundering, which are often unbounded by geography,” policeman Richard Chambers says.
“Introducing illicitly-obtained funds into New Zealand
constitutes money laundering and police will thoroughly investigate and
restrain the assets of those who undertake such activity […] regardless of
where in the world the crime is committed.”
– Detective Senior Sergeant Keith Kay, the head of the Asset Recovery Unit in the Waikato.
McIvor’s lawyer, Hamilton barrister Truc Tran, said that his client is denying the allegations of money laundering.