Accused of downloading and selling pirated movies, Hamilton-based Jaron David McIvor surrendered bank accounts holding $818,000 and control of digital wallets holding crypto-currencies currently worth more than $21 million.
Acting on information from US authorities, police investigated Mr McIvor’s online activity. A criminal proceeds restraining order was imposed on his bank accounts, and bank accounts controlled by his brother. The two agreed to forfeit all funds restrained, bar $400,000. In the High Court, Justice Downs approved the agreed forfeiture under the Criminal Proceeds (Recovery) Act. While arguably the $400,000 should be confiscated as well, Justice Downs said it would be disproportionately expensive and time consuming to hold a court hearing over this amount when all agreed the overwhelming majority of the restrained funds were forfeit.
The cryptocurrencies were valued at $21 million as at the date of the court hearing. Cryptocurrency market prices are notoriously volatile.
Commissioner of Police v. McIvor – High Court (30.11.20)
21.004