PHOTO: The Foulds admitted they had been selling cannabis for years. FILE
Drug-Growing Couple Ordered to Sell $1.2M Home to Repay “Ill-Gotten Gains”
A Bay of Islands couple who ran a sophisticated cannabis operation from their luxury home have been forced to sell the property after the High Court ruled they must repay nearly half a million dollars in “ill-gotten gains.”
Stephen and Leonna Foulds, both nearing retirement, were caught running a commercial-scale indoor cannabis farm from their $1.2 million home in Opua.
The five-bedroom, 300m² house on a 1958m² property was put on the market in July with an asking price of $1,130,000. Supplied
🌿 The Cannabis Operation
When police raided the property in December 2023, they discovered:
-
🚨 53 cannabis plants across two dedicated grow rooms
-
⚡ Power usage 4x the national average
-
💡 Automated hydroponic systems with lights, fans & air conditioning
-
🌱 Capacity for five harvests per year, yielding around 70 ounces each
The Foulds admitted they had been selling cannabis for years, even using the profits to fund a $191,000 renovation of their Bay of Islands home.
Supplied
⚖️ The Court Case
-
👩⚖️ Both pleaded guilty to cannabis cultivation, with Stephen also admitting to selling it.
-
🏠 Police froze their property under the Criminal Proceeds (Recovery) Act 2009.
-
💵 Between 2017 and 2024, the couple deposited over $300,000 in unexplained cash into their accounts, paid $57,000 in power bills with cash, and spent $125,000 cash on other expenses.
-
🔒 Last year, Stephen was sentenced to 10 months’ home detention, and Leonna received 8 months’ home detention.
Justice Johnstone ruled the pair must sell their five-bedroom, 300m² home and repay $450,000 to the Crown, describing it as “stripping Mr and Mrs Foulds of almost all their ill-gotten gains.”
Supplied
🏡 The House at the Centre of It All
The Foulds’ home, purchased in 2021 for $1m, was advertised in July 2025 for $1.13m.
The real estate listing described it as:
✨ “Sun-drenched, elevated, and brand new to the market”
✨ “An exceptional north-facing residence with breathtaking panoramic views over the Bay of Islands.”
If it is not sold by 30 January 2026, the property will be handed to the Official Assignee for forced sale.
🔮 What This Means
The case highlights the tough powers of the Criminal Proceeds Act, which allows police to seize assets gained through crime even if the exact dollar figure is unclear.
While the Foulds argued limited financial options due to age and health, the judge made clear the Crown was entitled to claw back proceeds of crime.
SOURCE: STUFF