THE CRIMINAL ASSETS Bureau (Cab) has frozen bank accounts containing over €260,000 as part of two separate investigations today.
The first investigation relates to contact made to Cab yesterday by a US federal agency investigating a company involved in the illegal manufacture of drugs, contrary to US law.
The US agency had identified an Irish bank account that was being used to receive funds as part of this crime which was then forwarded to a bank account in another country.
An investigation was launched by Cab in cooperation with US authorities, and approximately €150,000 was subsequently frozen in an Irish bank account.
The second investigation is part of Cab’s contribution to Operation Thor, which targets organised crime groups involved in burglaries and thefts across the country.
Today’s activity is a follow on from an operation on 29 October which saw a BMW, rolex watches, designer clothes and cash seized.
Cab’s investigation identified an additional bank account belonging to this particular organised crime group and action taken today has seen a further €110,000 frozen. The total amount frozen related to this investigation now stands at €358,000.
Today’s operation is seen as another significant development in the investigation into the assets of this organised crime group.
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