THE CRIMINAL ASSETS Bureau has seized a substantial amount of cash along with 115 vehicles following search operations targeting the assets and activities of an organised crime gang based in Limerick. 

CAB with the assistance of a number of garda units conducted eight searches in counties Limerick, Dublin and Tipperary earlier today. 

Searches were carried out in two residential premises, two car sales outlets and four professional premises – an accounting firm, a finance company and solicitors’ offices. 

During the course of the searches 115 vehicles, one Rolex watch, €43,000 and £1,000 in cash were seized.

Garda Press Office Garda Press Office

Garda Press Office Garda Press Office

Documentation in relation to the ownership of assets, financial documentation, mobile phones and electronic storage devices were seized and are currently being examined by CAB. 

The investigation centres on an organised criminal gang involved in the sale and supply of controlled drugs in the Limerick.

The gang is suspected of being involved in laundering the proceeds of their criminal conduct through a car sales outlet in Limerick city.

A bank account held by one car sales business was restrained by court order, pursuant to Section 17 (2) of the Criminal Justice (Money Laundering and Terrorist Financing) Act, 2010.

No arrests have been made but a garda spokesperson said today’s search operation is “a significant development in the CAB investigation and will be seen as a major upset to organised criminal activity in the Limerick city and county areas”. 

The search operation is currently ongoing.