BREAKING NEWS: Cork: INTERNATIONAL MONEY LAUNDERING OPERATION DISCOVERED AS Large Quantities Of Cash Is Seized By Gardai In Weekend Operation: UPDATED

5 Apr

Large quantities of cash have been seized in an operation in Cork at the weekend, the details of which have just emerged.

 Large quantities of cash have been seized in an operation in Cork at the weekend, the details of which have just emerged.

Gardaí raided a number of premises in Co Cork on Saturday.

A number of people have been arrested.

NEWS UPDATE:

 Cork gardaí uncover money laundering operation

Gardaí in Co Cork have seized hundreds of thousands of euro in an operation targeting a money laundering operation by an international drug trafficking gang.

The cash was seized during a series of raids at a number of locations in the county last Saturday as part of a co-ordinated investigation.

A number of people, including a couple in their 30s, were arrested for questioning.

Gardaí believe the money may be the proceeds of drug dealing by the gang who have links in Spain and Holland.

The cash was transferred last night under tight security to Dublin where garda technical experts will carry out a detailed forensic examination of the notes.

NEWS UPDATE:

Major Irish drugs supplier held after international operation | 26/05/2010

Gardaí in Co Cork are continuing to question a number of people following the seizure of several hundred thousand euro in a series of raids as part of an investigtion into an international money laundering operation.

Local detectives in Cork backed up by members of the Criminal Assets Bureau from Dublin carried out a number of raids on premises at various locations in the county on Saturday afternoon and arrested a number of people including a couple in their 30s.

The suspects were arrested under the Criminal Justice Money Laundering and Terrorist Financing Act 2010 and detained under Section 2 of the Criminal Justice Drug Trafficking Act 1996 which allows suspects be detained for up a week before being either charged or released.

Garda sources were remaining tight lipped but it’s understood that detectives were this morning continuing to question the suspects about the discovery of the sums of money which gardai believe may be the proceeds of an international drug trafficking gang with links to the Netherlands and Spain.

The large quantity of cash has been transferred to Dublin for forensic examination by members of the Garda Technical Bureau as gardai hope to try and obtain fingerprint evidence which would help them establish a link with the international drugs gang.

Gardaí also seized a small quantity of cannabis resin in one of the raids and this has also been sent for analysis at the State Laboratory as garda teams continued to comb a number of locations around the county after obtaining search warrants in court.

Garda sources would not be drawn on the identity or membership of the criminal gang behind the operation but they did say that there was no paramilitary connection with the money laundering operation which they believe may have been in existence for a number of years.

It’s understood that Saturday’s operation was intelligence led and followed an intensive gardai investigation going back at least several months in which gardaí have liased closely with specialist police units in a number of other European countries.

NEWS UPDATE:

Gardaí in Cork have seized several hundred thousand euro as part of an investigation into a suspected money-laundering operation.

Gardaí - Up to €500,000 in cash and assets seized in one raid
Gardaí – Up to €500,000 in cash and assets seized in one raid

Gardaí have seized several hundred thousand euro as part of an investigation into a suspected money-laundering operation by an international drugs gang.

A number of people have been arrested and gardai say the investigation is continuing.

This investigation has been ongoing for a number of months and is targeting a drugs gang whose members are Irish but who are now operating internationally, principally in Holland and Spain.

The investigation is being led from the Garda’s southern region and detectives have conducted a series of raids in Co Cork since Saturday.

During those raids they seized cash and documentation relating to the suspected money-laundering operation.

One of the seizures is understood to have netted cash and assets of €500,000.

A number of other seizures have also been made, including cars and jewellery.

The raids were conducted by detectives drawn from the Southern Region and from Cork with back-up support from the Criminal Assets Bureau.

The cash and documents have been transferred to Dublin where they will be examined.

A couple in their 40s are among a number of people who have been arrested.

Gardaí say they regard the seizures as a significant development in their investigation into the drug gang’s operations.

They say it is the first significant investigation to be conducted under legislation enacted last year, the Money Laundering and Terrorist Financing Act and the investigation is continuing.

NEWS UPDATE:

COMPUTER experts and forensic accountants are trawling through records seized during a major Garda operation which has already netted hundreds of thousands of euro, believed to be the proceeds of internationally laundered drugs money.

A husband and wife, who were among those arrested during the Garda operation in Cork city and county last weekend, were still being detained in Bandon Garda station last night.

Senior Garda sources said that while the couple — who are from Cork — are the only people currently being held, they expect to question several other people in the coming days and carry out further searches.

Last Saturday’s operation, which involved in excess of 40 gardaí, was the culmination of months of intelligence-gathering.

It’s the first significant investigation to be conducted under the Money Laundering and Terrorist Financing Act legislation, which was enacted last year.

It’s believed that around €300,000 was found in the boot of one of two cars seized by gardaí.

In addition to a substantial amount of further cash, gardaí also confiscated jewellery, computers, documents and a small quantity of cannabis resin.

A senior Garda source said that analysts would now be trawling bank accounts, business accounts, transactions with estate agents and car dealerships as part of the wider investigation into money laundering.

Gardaí believe the proceeds may come from international drug trafficking gang with links to Holland and Spain. The main gang members are Irish but are operating abroad, mainly in those two countries.

The operation involved detectives from Cork backed up by detectives from the Criminal Assets Bureau, Regional Support Unit, and Dogs Units.

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