As a result of two ongoing investigations by the Criminal Assets Bureau (CAB), bank accounts containing over €260,000 have been frozen.
The first investigation follows contact made with the Bureau on the 10th November 2020 by a US Federal Agency investigating a company involved in the illegal manufacture of drugs contrary to US law. The US Federal Agency as part of its investigation had identified an Irish bank account which was being used to receive funds as part of this crime and for onward transmission to a bank account in another country. An investigation was commenced by CAB in cooperation with the US agency and approximately €150,000 was subsequently frozen in an Irish bank account.
The investigation remains ongoing and is an example of CAB working with its international Law Enforcement partners to deny and deprive criminals of assets, wherever situated and derived, directly or indirectly, from criminal activity.
The second investigation is part of the Criminal Assets Bureau contribution to Operation Thor, targeting organised crime groups (OCG) involved in burglaries and thefts across the country. Wednesday’s actions are a follow-on from the CAB operation on the 29th October where searches were conducted in Dublin and Wicklow.
CAB’s investigations identified an additional bank account belonging to this particular OCG and as a result of their actions today a further €110,00 has been frozen bringing the total frozen as part of this particular CAB investigation to €358,000.
The operation is seen as another significant development in the investigation into the assets of this OCG.