The New South Wales Crime Commission has seized control of over $30 million worth of properties linked to Eddie Obeid, a former Labor politician in New South Wales, due to ongoing investigations into corrupt practices. The action is part of a lengthy investigation that has lasted over a decade, driven by new evidence and changes in legislation that have made it possible for the Commission to pursue the Obeid family's hidden assets.

Commissioner Stephen Dametto highlighted the importance of the closed Supreme Court hearing where Commission lawyers successfully obtained an order to restrain all interests in the properties held by the Obeid Corporation. Many of these properties are located in Bankstown, a suburb in south-west Sydney, and are believed to be concealed within intricate trusts, complicating their recovery for the state. The legal battle is anticipated to be prolonged, as the Commission seeks to reclaim the proceeds accrued from the corrupt activities of the Obeid family for the benefit of the people of New South Wales.

The implications of these actions are significant, as they not only reflect the ongoing efforts to combat corruption in the political landscape of New South Wales but also underscore a growing awareness of the complexities surrounding asset recovery. The seizure represents a landmark moment in the crackdown on corruption, demonstrating the state's commitment to transparency and accountability within its political systems, as it strives to prevent financial misappropriation and ensure that justice is served to the affected communities.