The Criminal Assets Bureau seized almost €6.4 million in “ill-gotten gains” last year, while it also hit 11 individuals and corporate entities with tax bills which amounted to €8.9 million, its annual report shows.
Seizures carried out during 2022 under the Proceeds of Crime Act included cash, property assets, luxury cars, watches such as Rolex, Breitling and Hublot, and goods such as Christine Louboutin shoes and Louis Vuitton bags.
The value of assets seized under the new proceeds of crime cases commenced by the bureau ranged in value from €9,718 to €1,948,147.
Among the cases highlighted in the report was the investigation of Dublin criminal Graham Whelan who is alleged to be involved in the drugs cartel led by Daniel Kinahan.
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“The bureau contended that the respondent is a key member of the Kinahan Organised Crime Group (OCG), an international OCG involved in the importation and distribution of drugs and firearms,” the report said.
The High Court upheld a CAB decision in January 2022 to seize €78,000, as well as a €28,000 Audemars Piguet watch, all of which the court ruled were proceeds of crime, from Mr Whelan.
Gardaí conducted a raid when Mr Whelan was at the Intercontinental Hotel in Dublin in early 2019. They found a drugs “tick list”, six mobile phones, including an “Encrochat” device, a small quantity of controlled drugs, cash, and the Audemars Piguet watch.
[ Two suspects face money laundering charges after Cab operationOpens in new window ]
The report also referred to the November 2022 seizure of a house in Saggart, west Dublin that the High Court ruled was owned by Daniel Kinahan. The house, which was valued at up to €800,000, was found to have been bought with the proceeds of drug-trafficking.
“The bureau’s investigation arose following a criminal investigation in 2014,” the report said. “The individuals involved are known associates of an international organised crime group who are suspected to be involved in money laundering activities and the importation and supply of illegal drugs in Ireland.”
On publication of the report, Minister for Justice Helen McEntee said she was “determined to further strengthen the legislation underpinning CAB”.
“Work is ongoing on the general scheme of the Proceeds of Crime (Amendment) Bill 2023, which I hope to bring to Government by the end of the year.”
