The queensland government or Mr Big?
September 30th 2010 06:13
Queensland Govt's $27m 'drug money' grab nears its end...
The Queensland government will know before the end of the year whether it has been successful in seizing up to $27 million in assets from a Gold Coast drug baron.
Charles Edward Cannon has been fighting the government in the Supreme Court in Brisbane, as authorities try to confiscate money they claim he made from drug trafficking.
The government alleges the former Finks bikie associate accumulated cash and property worth up to $27 million by selling methamphetamines between 1995 and 2003.
This makes it the highest sum of criminal proceeds ever sought in Queensland.
Cannon, 51, was convicted in 2005 of trafficking and possessing dangerous drugs and was jailed for nearly 13 years.
After his arrest, the state's crime watchdog froze Cannon's assets - including his Jaguar car and waterfront mansion - estimated to be worth about $4 million.
However the Crime and Misconduct Commission (CMC) is now alleging the fortune made from Cannon's drug empire is much higher.
Lawyers acting for the CMC, on behalf of the government, started a five-day proceeds assessment hearing in August.
However the application was adjourned mid-hearing so Cannon could change lawyers.
The matter has encountered further delays so Cannon's new legal team can be properly briefed.
During a review on Thursday, the court was told both sides will be ready to make their final submissions before Justice Peter Applegarth on December 3.
Justice Applegarth is then expected to hand down his decision before Christmas.
Acknowledgements: yahoo 7 News
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