Courts freeze property, cars, cash, stocks and crypto linked to Operation Dryad

It began with police intercepting packages headed for an Adelaide man’s house – leading to raids seizing millions in cannabis, and now a treasure trove of assets frozen by a court.

Millions of dollars worth of property, luxury cars – including a new Lamborghini – as well as jewellery, booze and cryptocurrency are among a treasure trove of assets frozen by the District Court as police dismantle an alleged northern-suburbs organised crime syndicate.

Operation Dryad targeted a series of alleged drug traffickers running a complicated interstate syndicate centred around a Gawler barber shop and other northern-suburbs properties.

Over a year police intercepted packages directed to the home of Matthew Newall.

On December 13, officers from the Serious and Organised Crime branch raided 13 properties across the northern suburbs, seizing assets and millions of dollars worth of cannabis.

Since the initial raid, the Director of Public Prosecutions has been moving to formally freeze the assets of multiple accused through the courts.

Over the past month applications have been made to restrain 10 properties belonging to the accused.

Businessman Steven Jadon had four properties restrained while couple Joshua and Sheryn Armstrong had their Paralowie home frozen.

Dale Formosa, Nicholas Rehmann and Andrew Mather also had homes frozen while Daniel Flynn had two properties restrained.

Mr Newall, who faces multiple money laundering charges stemming from his alleged handling of $1.3m as part of the syndicate, did not have any property seized, but had four vehicles restrained.

When a house or property is restrained by the court, it does not mean that the occupant is evicted.

Nicholas Rehmann and Matthew Newall. Picture: Facebook

Rather the owner is banned from devaluing the property, selling it or taking a mortgage out.

If the owner of the property is later convicted of serious drug offending, the DPP can apply to have the assets forfeited to the Crown where they will be sold.

Mr Jadon’s business empire – which includes removalists, tiling and insulation companies as well as gyms – was dismantled by the prosecutors.

The courts restrained numerous trucks and vans as well as a Harley Davidson motorbike, an unregistered 2022 Lamborghini and a jet ski.

Steve Jadon has had multiple assets restrained as part of an investigation into an alleged northern suburbs drug syndicate. Picture: Facebook

Andrew Mather faces charges of cultivating more than a prescribed quantity of cannabis plants, possessing prescribed equipment and diverting electricity. Picture: Facebook

Sheryn and Josh Armstrong, who have been charged over the alleged drug bust, had their Paralowie home frozen. Picture: Facebook

Also restrained were Mr Jadon’s stock and share portfolios, cryptocurrency linked to a CoinSpot account and 12 bottles of alcohol.

The details of those items were not disclosed in court documents.

Other luxury cars including a Maserati and a Jaguar were restrained by the courts.

The accused will appear in court over the coming weeks in separate hearings.