Drug dealer’s Tesla shares seized after £300k profits

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Austin Hockey (Image: Dyfed-Powys Police)

Last Updated: 33 seconds ago

A man who sold party drugs across Pembrokeshire and made over £300,000 has been ordered to hand over his only remaining asset – a small portfolio of Tesla shares worth less than £100.

The arrest

Austin Hockey, 32, of Acresbush Close, Bishopsworth, Bristol, was arrested in December 2023. Officers searching him discovered ecstasy and 2C-B tablets along with 100 grams of cannabis, which together had an estimated street value of £1,370. Hockey told police the drugs were for personal use, claiming he had “borrowed” the cannabis.

Phone evidence

An examination of Hockey’s mobile phone revealed he had been extensively advertising his drug supply operation. One message recovered from the device stated he could supply any drug apart from heroin.

Financial trail

Prosecutor Matthew Murphy told Swansea Crown Court that Hockey’s bank account showed £171,180.60 in payments received. It was agreed that his total benefit from drug dealing amounted to £311,594.

Defence arguments

Hockey’s lawyer, Dan Griffiths, told the court his client had begun using cannabis and alcohol from a young age and had been living a “chaotic lifestyle” at the time of his arrest.

Sentencing

Hockey pleaded guilty at Cardiff Crown Court to being concerned in the supply of ecstasy, 2C-B, and cannabis, as well as possession with intent to supply all three drugs. He was jailed for 40 months.

Proceeds of Crime

An application under the Proceeds of Crime Act was brought to recover some of Hockey’s drug profits. However, the court heard that the only asset available for seizure was a holding of Tesla shares purchased through the Trading 212 platform. These were valued at just £91.78, and Judge Paul Thomas KC made a confiscation order in that amount.