Gold Coast bikie kingpin Michael Bankier has homes and cash seized by federal authorities

Despite being unemployed, he had a multimillion-dollar fortune including luxury homes and hundreds of thousands in cash. But now this unemployed bikie kingpin’s world is crashing down around him.

An unemployed Gold Coast bikie kingpin who amassed a multimillion dollar fortune has had two properties and hundreds of thousands of dollars in cash seized by federal authorities as proceeds of crime.

Michael Andrew Bankier, an alleged senior associate of the Finks and Mongols bikie gangs, has been hit with a court order forcing him to hand over his ill-gotten gains.

Bankier, 36, was charged with offences including money laundering and dealing in proceeds of crime as part of a long-running National Anti-Gangs Squad investigation in 2016/17 codenamed Operation Reddig.

Michael Andrew Bankier, an alleged senior associate of the Finks and Mongols bikie gangs, has been hit with a court order forcing him to hand over his ill-gotten gains.

The squad charged 15 people with more than 60 offences as part of the investigation into drug trafficking, money laundering and tax fraud.

More than $3.6 million in real estate and cash as well as 45kg of drugs including cocaine, methamphetamine and cannabis were seized during the operation.

Bankier was arrested at his luxury Gold Coast hinterland home in 2017 after federal and Queensland police became suspicious at how the unemployed bikie associate could afford four houses.

Two female associates and a northern NSW accountant were also nabbed in the sting.

Police at the time alleged Bankier and his associates had ‘accumulated wealth beyond their means’ and were ‘living a lifestyle that didn’t represent their income’.

The Australian Federal Police-led Criminal Assets Confiscation Taskforce and Australian Tax Office this month gained a District Court order forcing Bankier to forfeit $1.8 million in assets to the Commonwealth.

Bankier is an alleged associate of the Mongols bikie gang.

The booty includes two properties valued at more than $1.3 million, rental income of $180,000 and $350,000 in sale proceeds from another property.

AFP Commander Andrew Donoghoe said criminals attempting to live the high life off ill-gotten gains could be assured that police would catch up with them and ‘end the party’.

“Not only will the AFP arrest and charge offenders for their criminal activity, we will come after any assets they have accumulated while breaking the law,” he said.

“If someone is telling the ATO they aren’t making any money, but live in a massive house or drive luxury vehicles, it doesn’t add up and the AFP is committed to investigating where the money is coming from.”

Bankier has pleaded guilty to money laundering and will be sentenced in Southport District Court at a later date.

Home Affairs Minister and Gold Coast MP Karen Andrews said it was ‘great work’ by the AFP.

“Hitting the bank balance of criminals means they have less funding for their illegal activities, keeping Queenslanders safe,” she said.

We’ll take these illegal funds and instead use them in our fight against criminality, by funding projects to keep our community safe.”