This article is from the Australian Property Journal archive
The Victorian County Court has granted an order to the National Australia Bank to appoint a receiver to sell properties owned by fugitive drug baron Tony Mokbel.
Yesterday, Judge Michael McInerney granted orders to allow the NAB to appoint Ferrier Hodgson as receivers to four properties owned by Mokbel.
Ferrier Hodgson’s George Georges could not disclose the value of the four properties and how much money much the bank is to looking to recover.
Georges said he has already engaged real estate agents to evaluate and price the properties, which will soon be marketed for sale.
In addition to the properties, the Director of Public Prosecutions is also looking to seize Mokbel’s Ferrari.
Yesterday, the application was opposed by Mokbel’s estranged wife Carmel, one of the co-owner of the properties.
Mokbel eluded police and fled the country recently and in his absence was sentenced to a maximum of 12 years in jail for importing 2kg of cocaine from Mexico to Melbourne in 2000.
By Nelson Yap
