Drugs Dealer Cosmo Budd Hit with Massive Asset Seizure
Cosmo Budd, 25, was locked up in December 2021, serving three years and nine months after admitting to money laundering and Class A drug offences. His arrest came a year earlier at his rented pad in Bartley Mill, Lamberhurst, where cops found cocaine stash worth around £3,000 and nearly £1,400 in cash.
£160K Criminal Profits Snatched by Police
Digging into Budd’s finances uncovered whopping £160,816 made from his criminal racket. Authorities identified £28,824 as recoverable through seized cash, money in his bank account, plus the sale of his BMW convertible, personalised number plate, and quad bike.
The court-approved confiscation order was handed down at Maidstone Crown Court on August 11, 2022. Police warned any more assets found could be grabbed to claw back the full amount Budd earned from crime.
Detective Inspector Swears ‘Crime Does Not Pay’
“Cosmo Budd and others like him may splash their dirty cash on sports cars and designer gear, but we’re quick to strip them of their assets while they rot behind bars,” said Detective Inspector Helen Smithers from the Kent and Essex Serious Crime Directorate.
“Our financial investigators go all out to make sure criminals can’t enjoy the spoils once they’re out. We’ll keep using the Proceeds of Crime Act to send a clear message: crime does not pay.”
Recovered Cash Boosts Police and Home Office Funds
Under the Asset Recovery Incentivisation Scheme (ARIS), money seized under the Proceeds of Crime Act is shared with operational agencies like Kent Police and the Home Office. These funds are then reinvested in policing, helping crack down on future criminals.
