Sam Karagiozis, the 27-year-old self-made self-proclaimed “serial entrepreneur”, has always described himself as a hustler. Now, just a month after selling his Lamborghini, Karagiozis, the man with the words “self made” tattooed across his knuckles, has more pressing concerns than plunging bitcoin currencies that he has prided himself on trading in.

On 7 March,  Australian Federal Police charged Mr Karagiozis with drug trafficking after allegedly playing a key role in directing an organised crime syndicate that dealt with dark web sites, bitcoin accounts and businesses used as covers for the distribution of drugs.

A joint taskforce made up of AFP and AUSTRAC financial intelligence agency officials raided properties linked to Mr Karagiozis in Bulleen, Templestowe and malvern where they siezed drugs, cash and cryptocurrency related articles. Police have placed restraining orders on his assets, worth more than $2 million that include bank accounts, property, cars, cash and cryptocurrency.

Mr Karagiozis was charged with trafficking about 30 kilograms of drugs that included cocaine, MDMA and methamphetamine. All up, he faces 14 offences relating to drugs.

He remains bail-refused following his appearance at the Melbourne Magistrates Court last week.