The assets of two brothers from Newry, Co Down have been seized by the Assets Recovery Agency following an investigation into cross-Border fuel smuggling.
The Agency has been granted an interim receiving order at Belfast High Court on property and other assets worth in excess of £750,000 (€1.1 million).
The property seized included two filling stations close to the Border, a Newry house and a luxury Belfast apartment.
An interim receiver has taken control of the properties and assets belonging to Sean Byrne and his brother John, both of the same address at Barr Road, Belleeks, outside Newry, Co Down.
The assets include:
- a petrol filling station and business premises in Camlough;
- a petrol filling station and premises at Meeting Street, Warrenpoint;
- a house in Newry;
- an apartment at St John's Wharf, Belfast;
- a number of vehicles;
- a number of bank accounts.
The ARA said it was estimated the net equity in the properties was in the region of £600,000 (€888,200). The value of the businesses as going concerns was yet to be assessed.
The case was referred to the Agency by HM Revenue and Customs as a result of its joint criminal investigation with the Criminal Assets Bureau in Dublin into fuel smuggling and laundering on both sides of the border.
In the High Court case, the agency alleged the assets of both brothers were derived from fuel smuggling and laundering, with excise and other oils fraud.
PA