<h2>New Zealand Police Restrain $4.2 M in Money Laundering Investigation</h2>
The force of New Zealand police has seized about 6.7 million in <a href="https://en.wikipedia.org/wiki/Cryptocurrency"><strong>cryptocurrency</strong></a> from the person who was purportedly involved in online movie piracy in the U.S.

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<h3>Seizure's Two Accounts</h3>
On Nov 23, ar 5:00 A.M local time, the New Zealand Herald noted that NZ police had seized over NZ $6.7 million (USD $4.2 million) in cryptocurrency. And also seized NZ $1.1 million (USD $700,000) in bank funds. The person from whom NZ police grabbed the amount was a software programmer, Jason David Mclvor. All the activity done by the police was under the Criminal Proceed Recovery Act (CPRA).

After an hour, authorities issued a <a href="https://www.cryptoknowmics.com/tag/press-release/"><strong>press release</strong> </a>stating that they had seized $6.2 million in cryptocurrency and $800,000 in bank funds the previous summer from an accused who stayed anonymous. The release noted further that police had seized amount of $472,000 in cryptocurrency and $377,000 in bank funds from an associate in November.

The CPRA is a sequence-based complete process where a high court judge decides if someone has gathered the wealth through any criminal activity. If this gets proved, the judge has an authority to grant the order to freeze any assets that have been accumulated via alleged illicit activities.

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<h3>Accused Involved in Piracy and Money Laundering</h3>
New Zealand police claimed that Hamilton-based Mclvor is associated with money laundering. They accused of him because the suspect obtained millions of dollars from an illicit movie-streaming website he assisted to build.

Moreover, the head of the Recovery Unit is Waikato, Detective Senior Sergeant Keith Kay, said his team got active after a tip from the US International Revenue Service (IRS), which had obtained reports from PayPal regarding suspicious activities. And these illegal activities paved the path for Tax Officials towards Mclvor in New Zealand.

The police told the New Zealand Herald that Mclvor received about $2 million from the streaming site. And the received fund was deposited into his bank accounts from International wire transfer, PayPal and Stripe. Further, Kay stated:
<blockquote><em>"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."</em></blockquote>
Lawyer of Mclvor, Hamilton Barrister, Truc Tran claiming that his client has nothing to do with the allegation of being involved in money laundering.

New Zealand Police Restrain $4.2 M in Money Laundering Investigation

The force of New Zealand police has seized about 6.7 million in cryptocurrency from the person who was purportedly involved in online movie piracy.

New Zealand Police Restrain $4.2 M in Money Laundering Investigation

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