{"id":637639,"date":"2026-03-07T01:57:19","date_gmt":"2026-03-07T01:57:19","guid":{"rendered":"https:\/\/www.europesays.com\/us\/637639\/"},"modified":"2026-03-07T01:57:19","modified_gmt":"2026-03-07T01:57:19","slug":"obeid-family-loses-control-of-30m-worth-of-sydney-properties-after-one-of-nsws-most-brazen-acts-of-corruption","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/637639\/","title":{"rendered":"Obeid family loses control of $30m worth of Sydney properties after one of NSW’s ‘most brazen acts of corruption’"},"content":{"rendered":"

After investigations spanning a decade, the NSW Crime Commission says it has taken control of more than $30 million worth of properties linked to former state Labor politician Eddie Obeid.<\/p>\n

Commission lawyers attended a closed Supreme Court hearing on Friday to secure an order restraining all interests in property of the Obeid Corporation.<\/p>\n

They secured caveats over a number of properties at Bankstown, in south-west Sydney, which they said were “hidden assets” being “held within complex trusts”.<\/p>\n

The order prevents any person dealing with or disposing of the properties, except as agreed to by the commission.<\/p>\n

\"Commissioner<\/p>\n

Commissioner Dametto says it took more than a decade to secure the properties. (ABC News)<\/p>\n

NSW Crime Commissioner Stephen Dametto said the restraining order against the Obeid Corporation and any interest that they have is critical, but just the first step.<\/p>\n

“It’s been a marathon exercise because of the deliberately complex web of trusts and companies which have allowed the Obeid family to conceal these proceeds of crime,”<\/p><\/blockquote>\n

he said.<\/p>\n

“There’s still a great deal of work in front of us to extract those funds from those properties and return it to New South Wales taxpayers.<\/p>\n

“However, we can now undertake the work knowing the Obeids have no power over those assets and no way of profiting from selling them to pocket the cash.”<\/p>\n

\"Mr<\/p>\n

The NSW Crime Commission says it has taken control of multiple properties in south-west Sydney linked to the Obeid Corporation. (AAP: Bianca De Marchi)<\/p>\n

Commissioner Dametto said new evidence and legislation changes assisted with the investigation.<\/p>\n

“I can’t go into the specifics of the new evidence, but what I can say is that we used coercive powers, new evidence was obtained, and what helped us was the legislative amendments removing a six-year limit on recovering those proceeds of crime, [which] provided what we needed to strike the way we have,” he said.<\/p>\n

The commission now expects a lengthy legal process.<\/p>\n

“My message to the directors of the Obeid Corporation is really to do the right thing and return the proceeds of Eddie and Moses Obeid’s crime to the people of New South Wales,” he said.<\/p>\n

“Otherwise, us as the commission will litigate this matter with determination to ensure that the tens-of-millions of dollars acquired, which is really one of the most brazen acts of corruption New South Wales has seen, remain out of the reach of Mr Obeid and his family.”<\/p>\n","protected":false},"excerpt":{"rendered":"After investigations spanning a decade, the NSW Crime Commission says it has taken control of more than $30…\n","protected":false},"author":3,"featured_media":637640,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[2],"tags":[63748,4740,124261,17628,68652,271610,50,271609,271608,10558,196849,13048],"class_list":["post-637639","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","tag-assets","tag-australia","tag-bankstown","tag-corruption","tag-eddie","tag-former-labor-politician","tag-news","tag-nsw-crime-commission","tag-obeid","tag-property","tag-seized","tag-sydney"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/116185415493656215","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/637639","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=637639"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/637639\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/637640"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=637639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=637639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=637639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}