With an extensive marketing campaign for his business and an impressively diversified investment portfolio, Sharma Saili Jacobson could be the textbook example of a successful entrepreneur. But no. His Whangarei business was dealing in drugs; the investment portfolio seized as proceeds of crime.
In a court approved settlement, Jacobson agreed to surrender investment assets totalling $222,300.
Police claim he generated income totalling at least $963,000 but settled for an agreed lower figure of $222,300.
In 2023, Jacobson’s sentence was reduced on appeal to two years and eight months imprisonment for possession and dealing.
The High Court was told of Jacobson marketing a variety of prohibited drugs through use of mass texts sent to over one hundred people each time.
To camouflage his trail, he changed his phone number every 28 days.
Police analysis of his phone records identified some 3600 transactions with nearly 400 different customers over a twenty month period.
As part of the negotiated settlement, Jacobsen agreed to surrender assets held in cash, bank deposits with three different banks, cryptocurrency and shares in six NZX listed companies.
Jacobson also signed a statutory declaration stating he has no other assets available to meet a proceeds of crime forfeiture order.
If untrue, Police may later seize further assets that come to light.
Commissioner of Police v. Jacobson – High Court (5.12.25)
26.038