Prosecutors and the Purana taskforce have moved to confiscate a $10 million property portfolio allegedly controlled by convicted underworld boss Rocco Arico, which includes his luxury home, a development site, a coastal property and a bathing box on the Mornington Peninsula.
The Moonee Ponds mansion bought by Arico's wife in 2015 is nicknamed the "ice castle" by law enforcement authorities because it was allegedly bought and extensively renovated with the proceeds of his vast drug-dealing empire.
Arico, who is considered one of the most powerful crime figures in Victoria, was sentenced earlier this year to 14 years' jail for drug trafficking, extortion, and weapons offences.
Supreme Court judge Cameron Macaulay agreed to issue restraining orders over five properties on March 31 after receiving sworn evidence from police that Arico had "engaged in serious criminal activity" under proceeds of crime legislation.
Law enforcement and underworld sources said Arico emerged as a major methamphetamine and cocaine trafficker following his release from prison in 2008, after serving a seven-year sentence for kidnapping and attempted murder.
Arico was a close associate of slain drug lord Carl Williams and has family links to senior members of the Calabrian 'Ndrangheta, or Honoured Society, which is considered one of the most powerful mafia groups in the world.
Fairfax Media understands the government is mounting an argument that the properties, some of which are held in the name of family members, were funded by his illegal activities and represent "unexplained wealth".
Among the frozen properties is the family home in Moonee Ponds that was bought for $2.1 million two years ago and has been transformed into a palatial mansion that is now estimated to be worth almost $4 million.
The 1300-square-metre estate is protected by high metal gates and blanket CCTV coverage.
"Rocco spent a mint on that place," an underworld source said.
Arico also owns a custom-built holiday home overlooking Safety Beach on the Mornington Peninsula, which includes access to a bathing box estimated to be worth about $200,000.
During his trial, Arico claimed his occupation was a builder and developer who managed projects on behalf of family members who provided the land or financial backing.
One of his biggest deals included plans to build a $6 million, 25-apartment project in Sydney Road, Coburg, through a company owned by his father, Ara Builders & Developers. His family also owns another development site across the street.
All of these holdings are now "frozen" pending a court order determining their future.
But those assets represent only a fraction of the portfolio linked to Arico since he was released from prison in 2008 and began working as a developer.
Between 2009 and 2015, around the time of his arrest on extortion and drug trafficking charges, the family bought, developed and sold at least another $7.1 million worth of property, mainly in coastal areas.
Arico's parents and wife have been listed as owners on title records, mortgage documents and Australian Securities and Investment Commission company filings in at least seven property deals.
The acquisitions have been backed by ANZ, Westpac and Commonwealth Bank, which provided substantial loans for the deals, some of which were for properties and companies registered in the name of the convicted criminal.
In evidence introduced at his trial, Arico claimed he had special relationships with bank loan officers that could help him and his associates arrange financing.
"You were not a rehabilitated man when you were released from prison in 2008," County Court judge Geoffrey Chettle said when sentencing Arico to prison in February.
"You were a complete outlaw. You controlled real estate agents, bankers and building contractors."
At least one of the property deals also involved his father-in-law, Jadran "Adrian" Delic, a significant construction industry figure and associate of known underworld figures, including members of the Mokbel crime family.
Mr Delic's business interests have included a major plastering company, safety equipment supplier and a funeral home, and he has close personal and business links with the Construction, Forestry, Mining and Energy Union.
Sources have told Fairfax Media that Mr Delic recently spent millions of dollars on the development of a coastal resort in his homeland of Croatia.
"It's on an island off the coast. He's always flying over there; he's spent a fortune on it," a source said.
Arico's parents are also facing the potential loss of their family home in Brunswick in a separate legal proceeding after they allegedly defaulted on a loan from the Commonwealth Bank obtained to help Arico with a property development.
In a statement filed in their defence, they claim the CBA took advantage of them because of their advanced age, limited education and poor understanding of English.
Arico's solicitor, Anthony Condello, did not respond to a request for comment on behalf of his client.