A Mongrel Mob boss caught with over 68-thousand dollars in a Louis Vuitton handbag, has admitted to dealing drugs across the North Island

Mathew Karetu was arrested in March as part of an operation targeting an Auckland businessman, where he exchanged cash for meth, to sell across the Bay of Plenty, Waikato, Hawke's Bay and Wellington.

Police then raided Karetu's home and seized over 70-thousand dollars, a semi-automatic pistol, a cash counting machine, two Hastings properties, and five vehicles.

A High Court judgment in October, says he was able to obtain the assets, despite tax records showing he declared an average income of six-thousand dollars a year.

Karetu sentenced in February after pleading guilty to multiple drug and weapon charges.