Australian police seize US$900 million in 'meth'

[webfact]

Australian police seize $900 million in methylamphetamine

SYDNEY (AP) — Australian law enforcement agencies have seized methylamphetamine worth 1.26 billion Australian dollars ($900 million) in the country's largest-ever haul of the illicit drug in its liquid form, officials said Monday.

Four Hong Kong passport holders were arrested in Sydney last month over the import from China of 720 liters (190 gallons) of the drug hidden in boxes of silicon bra inserts and art supplies, police said in a statement

The liquid could have made about 500 kilograms (1,100 pounds) of high-grade crystal meth, commonly known in Australia as ice, Australian Federal Police Commander Chris Sheehan said.

Officials also seized 2 kilograms (4.4 pounds) of the crystalized form of the drug.

Justice Minister Michael Keenan said the operation used information gathered through new cooperation between Australian Federal Police and China's National Narcotics Control Commission. The Australian and Chinese agencies established a joint task force in November to investigate criminal syndicates trafficking methamphetamine.

"This largest seizure of liquid methylamphetamine to date is the result of organized criminals targeting the lucrative Australian ice market from offshore," Keenan told reporters.

The four will appear in a Sydney court next month charged with importing and manufacturing commercial quantities of illegal drugs. Each suspect faces a potential life sentence if convicted.

Keenan said the seizure was one the largest hauls of illicit drugs in Australian history.


-- (c) Associated Press 2016-02-15

[slapout]

Who comes up with the value of these seizures, the fellow who gets the reward for being snitch?

Price varies as to physical location, by double or even more. At the upper end price in us its about 600 us per liter and less than half that on the west coast of us. I would expect chinese price to be much less than us

price for same quality ?? on this material, just like every thing else they put out on the market.

I do not have personal experience or knowledge, but google is quite informative, for those of you who may question my knowledge on the topic.

[pedro01]

Value is most likely bases on the street sale price of the smallest unit of measure sold.

I don't think this is about rewards but about promotions and larger jail sentences.

Edited February 15, 2016 by pedro01

[simple1]

Value is most likely bases on the street sale price of the smallest unit of measure sold.

I don't think this is about rewards but about promotions and larger jail sentences.

Yes, Oz law enforcement bases value at retail street level. Illegal drugs are expensive in Oz in comparison to places such as the US.

Edited February 15, 2016 by simple1

[bridge2bridge]

LIFE Sentence.

You must be KIDDING me.

Australia has some of the SOFTEST PENALTIES in the WORLD.

[SOTIRIOS]

...confusing yes....

...'could have made 500kgs...'....

...how many multiples of this have they found in the backs of pickups in Thailand.....

...never heard of such a value attached to it...900 million dollars.....

...wow....

[Mot Dang]

LIFE Sentence.

You must be KIDDING me.

Australia has some of the SOFTEST PENALTIES in the WORLD.

I think this one will be different. Value of 1 billion Australian dollars, that's mind boggling. There was just so much of it. I hope the bastards get life. You are right Australia does have soft penalties, bloody do-gooders, social workers and tree-huggers run the courts.

[ronrat]

Who comes up with the value of these seizures, the fellow who gets the reward for being snitch?

Price varies as to physical location, by double or even more. At the upper end price in us its about 600 us per liter and less than half that on the west coast of us. I would expect chinese price to be much less than us

price for same quality ?? on this material, just like every thing else they put out on the market.

I do not have personal experience or knowledge, but google is quite informative, for those of you who may question my knowledge on the topic.

You are clueless how it works in Australia and I suggest you <deleted> and remain so.

[Don Mega]

555 !!

Yesterday, the Australian Federal Police announced that they had arrested four people and seized approximately 720 litres of methylamphetamine, imported from Hong Kong, with a street value of more than $1 billion.

Now that the initial euphoria of the bust has worn off, though, the AFP has been left to ponder its decision in the cold light of day, and has admitted that the billion-dollar figure is an "upper range" estimate of what the drugs are worth.

Yesterday, the AFP said that the 720 litres of methylamphetamine could be used to manufacture 504 kilos of ice, with a street value of around $15 million-per-kilo, bringing the total to $1.26 billion.

That figure is something of a contrast to previous estimates by the AFP, who last month valued ice at approximately $660,000 per kilo. Either the ice market is as <deleted> as the housing market, or something's up.

At a press conference on the bust, AFP Mathemagician Commander Chris Sheehan explained the new method of accounting, saying:

"The first point I'd make is that, regardless of the value, once we have seized the drugs, they are essentially valueless because they will never ever, ever, realise a profit for organised crime.

In terms of the computation of values, there are a number of different ways they can be calculated. Typically, what the AFP relies upon is the ACC's Illicit Drug Data Report (IDDR). Now that report comes out annually, and obviously the values change over time.

The particular value of this shipment has been calculated on the basis of its value sold at a street level, which at that level - a kilogram of crystal methylamphetamine - could be broken into 0.1 gram deals, or 'points', and sold at that value. Now, calculating out from there brings us to the $1.26 billion."

The AFP has since been urged to be more consistent and open in its methods of calculating drug value.

http://www.pedestrian.tv/news/arts-and-culture/afp-admit-that-yesterdays-1-billion-ice-haul-might/eb507354-4031-49c1-b328-a95542346f7f.htm

Edited February 15, 2016 by Don Mega