Confiscation order delayed due to ongoing divorce settlement over £107,722.80 property equity.
Craig Costello, a convicted drug trafficker from Teesside, awaits the final seizure of his assets following his involvement in a global cocaine distribution network.
Prosecutors have identified £137,577 in available cash and assets for confiscation. The seizure includes cryptocurrency holdings, property proceeds, and bank deposits accumulated during his criminal activities between 2015 and 2016.
Costello operated alongside three business partners in managing the Teesside branch of an international drugs ring.
John Watson, Steven Beazley, and Dave Wright formed the local team under Stockton drugs baron Jon Moorby. The operation functioned under the direction of Merseyside gangster Lance Kennedy, who orchestrated approximately £17m in cocaine imports.
The criminal enterprise utilized chartered helicopters to transport class A drugs across the Channel. Couriers then moved the cocaine from Kent to Merseyside before distributing it across the north east.
Cleveland police conducted extensive surveillance operations to gather evidence against the group during the two-year period.
All four members received convictions for conspiracy to supply class A drugs in 2021. Costello fled to the Middle East before the jury delivered its verdict.
Authorities apprehended him in Amsterdam while driving and returned him to the UK. He subsequently served a nine-year-seven-month sentence at HMP Kirklevington before his release in August under the 40% scheme.
Financial investigators determined Costello generated £1.6m in illegal profits through his trafficking activities.
The proceeds of crime application has identified specific transactions linked to drug sales. Prosecutors traced a £16,815 payment into his bank account alongside an additional £3,175 deposit.
Authorities discovered £4,012.21 worth of Ethereum Classic cryptocurrency registered in Costello’s name. Court documents confirm this digital currency originated from drug trafficking proceeds.
His five-bedroom property on Chesterfield Drive in Marton was sold while he remained incarcerated. Several quad bikes and vehicles were also confiscated and liquidated.
The final confiscation amount remains unsettled due to ongoing property settlement disputes. Victoria Costello initiated divorce proceedings after her husband’s imprisonment.
She claims entitlement to a portion of the house equity, totaling £107,722.80. The Crown Prosecution Service has suspended divorce proceedings until financial matters reach resolution.
Durham Crown Court will issue the confiscation order next year. Costello’s former associates paid back less than £300,000 from £4m in combined profits.
