A former prominent politician, and one-time junior minister, was being questioned in Dublin last night by gardai investigating money laundering. The man was taken into custody in the city yesterday morning and was questioned by detectives in Pearse Street Garda station.
The questioning is part of an investigation by the Criminal Assets Bureau into trafficking by major drug gangs in Dublin, and the laundering of the proceeds of crime.
It is understood that the man was being questioned about his role in a number of financial transactions which have come to the attention of the detectives. There were no indications last night as to whether he might be charged. It appeared that he would be staying at the station overnight but sources said it was possible he would be released with a file being prepared for the Director of Public Prosecutions.
The man was prominent in local and later in national politics but stepped down some years ago, to concentrate on his career. The Criminal Assets Bureau and detectives from the Garda National Bureau of Fraud Investigation, have been concentrating on the assets of the State's criminals for the past year. The Criminal Assets Bureau consists of social welfare and Revenue officials as well as gardai, who work together to trace financial transactions of suspected and convicted criminals.
One of the areas they have concentrated on is the dealings between criminals and their professional advisers. Since it was set up, the Criminal Assets Bureau has used various laws, including tax legislation and the 1994 Criminal Justice Act, which requires financial institutions to disclose suspicious transactions to the Garda, and allows for the confiscation of assets. The bureau was set up last year with the Proceeds of Crime Act, which also allows for the authorities to seize assets.
During one High Court hearing concerning the Act earlier this year the Deputy Garda Commissioner, Mr Noel Conroy, said the new legislation had resulted in many significant criminals leaving the State and attempting to sell assets.
It had been important legislation which had boosted confidence in the judicial system.
The court was told that one criminal gang in Dublin had invested millions of pounds in legitimate businesses, such as pubs, and in buying apartments.