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Brian Lawless/PA
Milford
Man (40s) arrested in Donegal over €20 million property registration fraud
The alleged fraud involves the removal of mortgage charges from 12 properties.
A MAN IN his 40s has been arrested in Co Donegal as part of an ongoing investigation into alleged property registration fraud.
The man was arrested by members of the Garda National Economic Crime Bureau and gardaí in Dundalk at Milford Garda station this morning.
This investigation concerns an alleged fraud of up to €20 million, which involves the use of fraudulent documentation to remove mortgage charges held by financial institutions on properties.
The removal of the charges by the fraudsters allowed the properties to be sold without repaying the mortgages.
In the case under investigation by gardaí, mortgage charges were allegedly removed from 12 properties, with six of them being sold.
The man who was arrested today is being detained under Section 50 of the Criminal Justice Act, 2007 at Milford Garda station and can be held for up to seven days.
A garda spokesperson said it is the 12th arrest as part of their investigation.
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