– Six crime bosses operating in Australia have each amassed $100 million in unexplained wealth during the past two years as Mexican and South American drug cartels chase the high Australian dollar.
In an exclusive interview, Australian Federal Police Commissioner Tony Negus said drug traffickers focused on Australia because do astronomical returns due to the value of the dollar.
A kilo of cocaine in Mexico is about $US2300 ($2240); in LA, it is about $20,000; and in Australia, it is about $200,000,” Mr Negus said.
Another 72 people have acquired more than $10 million each in unexplained wealth during the same period.
But because of flawed Commonwealth unexplained wealth laws – which the states last week resisted Prime Minister Julia Gillard’s bid to change – the AFP has been unable to get a single prosecution to court.
The AFP has been powerless to take action over their unexplained wealth, Mr Negus said, in cases where the ‘Mr Bigs’ are two or three steps removed from the drug importation.
Laws passed in 2010 required a direct link to crime, with the laws also requiring the AFP to isolate wealth drawn from the Commonwealth offences, which Mr Negus said was difficult where state offences were also suspected.
Mr Negus said the new proposed laws were in the national interest.
He said of the targets: “They live the high life, they travel the world, they target Australia, they make the best of a situation which exploits weaknesses in the law.
Ms Gillard’s bid to introduce new laws to force people with unexplained wealth to explain where it came from was thwarted by the states at the Council of Australian Government meeting last Friday – Gemma Jones


About Jumpin' Jack Cash

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