THE CRIMINAL ASSETS Bureau (CAB) has been granted an order by the High Court to confiscate three houses from a major Dublin drug dealer.
Mr Justice Alex Owens noted that David Waldron has numerous criminal associates, including his brother Christopher Waldron.
The Judge accepted that David Waldron has been a “major player” in the illegal distribution and sale of controlled drugs in Dublin since 2000 and that this activity has been the mainstay of his means, income and lifestyle during this period.
Waldron bought a house in Glenties Park in Finglas, Dublin in September 2001. He sold this property in March 2004.
He then bought a semi-detached house in Riverforest Estate in Leixlip for €257,000.
In December 2008, Waldron bought a semi-detached house at Ratoath Road in Cabra for €330,000. He used Riverforest as equity which had increased to €400,000 as a result of inflation and improvements to the property.
Waldron bought a site in a rural area near Gorey, Co Wexford for €40,000 in October 2014 and he later built the property Darview Heights on it.
Mr Justice Owens found that Waldron bought Glenties Park using the proceeds of crime. He found that Waldron used proceeds of crime to meet monthly mortgage payments on the property.
Waldron bought Riverforest using capital gain on the sale of Glenties Park and this capital gain was derived from proceeds of crime, the Judge found.
Mr Justice Owens also found that Waldron used proceeds of crime to pay the Permanent TSB Riverforest mortgage between 2004 and 2008.
Waldron paid for improvements to Riverforest using proceeds of crime, the Judge found, adding that the money spent on these works did not come from legitimate income.
His ownership of Riverforest was financed by proceeds of crime, the Judge found. He also found that Ratoath Road was bought using Waldron’s equity in Riverforest which came from proceeds of crime.
The Judge noted that Waldron “deceived mortgage lenders into giving him loans to buy Glenties Park, Riverforest and Ratoath Road”.
Mr Justice Owens said that money to buy the site for Darview Heights came from hidden sources.
He said it cannot be traced to any legitimate means or income of Waldron or his wife Charlene Waldron. The Judge said that use of cash deposited to disparate bank accounts to buy the bank drafts used to fund this purchase shows money laundering of proceeds of crime.
David Waldron denied that he is a major criminal.
Mr Justice Owens said Waldron’s evidence to the court is “insufficient” to rebut his “provisional conclusions relating to the purchase of Glenties Park, the mortgage payments made by David Waldron on the mortgage of Glenties Prk and the purchase of Riverforest”.
The Waldron family currently lives in Darview Heights.
The Judge noted that Waldron took over a “leading role” in sourcing and supplying controlled drugs in the Cabra area of Dublin after the murder of Eamon Dunne in April 2010.
Mr Justice Owens also noted that Waldron was an associate of Darren Kearns, Michael Kelly and David Douglas. Kearns, Kelly and Douglas are all deceased.
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