3:42 pm today

Police raid King Cobra gang pad in crayfish theft investigation

3:42 pm today
no caption

The value of the crayfish believed stolen is estimated by police to be worth several hundred thousand dollars (file image). Photo: RNZ / Rebekah Parsons-King

Dunedin police have seized a gang pad while targeting an organised crayfish crime ring believed to have stolen almost four tonnes of commercial crayfish.

Police and Fisheries New Zealand have been investigating the theft from a Dunedin business in the year to October.

Detective Inspector Nicola Reeves said police believed the 3.75 tonnes of crayfish were stolen to order.

"This is theft on a massive scale, with the value of stolen crayfish estimated to be several hundred thousand dollars," she said.

On Wednesday morning, three search warrants were carried out, targeting two people and three properties in Dunedin.

One of them was on the King Cobra's David Street pad that was believed to be linked to the crayfish theft.

David Street in Dunedin, where a gang pad was restrained under the Criminal Proceeds Recovery Act.

David Street in Dunedin, where a gang pad was restrained under the Criminal Proceeds Recovery Act. Photo: RNZ / Tess Brunton

The property has been restrained by police under the Criminal Proceeds Recovery Act, which allows police to forfeit assets to the Crown that were acquired as a result of criminal activity.

Operation Larry included teams from Southern District Organised Crime, Southern Asset Recovery unit and Fisheries New Zealand carrying out simultaneous warrants at 7am.

Reeves said charges were likely.

"The offending has had a significant impact on the victims, and the losses to them are huge."

The theft was first reported to police back in October.

Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.