UK Authorities Seize Crypto Assets in Drug Trafficking Case
UK prosecutors have moved to confiscate cash and cryptocurrency holdings from Craig Costello, a convicted member of a Teesside-based drug ring. The assets include proceeds from investments funneled into digital assets, alongside luxury vehicles and property already liquidated under proceeds of crime rulings.
Costello operated alongside three business partners under Stockton drugs baron Jon Moorby between 2015-2016, facilitating £17 million in cocaine imports via chartered helicopters and couriers. The group's 2021 conviction followed a Cleveland police surveillance operation targeting their cross-border trafficking network.
While no specific cryptocurrencies were named in court filings, the case highlights increasing scrutiny of digital assets in UK financial crime investigations. Prosecutors emphasized Costello's affinity for crypto investments as they pursue asset forfeiture.
