A MAN IN his 50s has been arrested by gardaí in Dublin suspected of fraudulently earning over a quarter of a million euro in rent payments for properties he didn’t own.

Gardaí from the Garda National Economic Crime Bureau made the arrest following a two-year investigation on foot of intelligence received from the Property Registration Authority (PRA).

The man is currently being detained under section four of the Criminal Justice Act 1984 in Terenure Garda Station.

Acting in a professional capacity, he is suspected of submitting false deeds to the PRA stating the ownership of two properties had transferred from one entity to a second entity.

An estimated €260,000 in funds was fraudulently claimed by people involved in this scam, from the collection of rent at these properties, gardaí said. 

As a result of this, the legitimate owners of the properties suffered a significant financial loss and did not financially benefit from the fraudulent claims.

In a statement, the Garda Press Office said: “This extensive investigation conducted by GNECB involved inquiries through Interpol in the UK, USA and Virgin Islands.

“A number of companies registered in these jurisdictions are believed to be connected to this investigation. To date, GNECB have conducted four search operations and seized over 480 exhibits in relation to the investigation.”

Today’s arrest is the latest in a series of investigative tasks conducted by GNECB in relation to this matter. Investigations are ongoing.

With reporting by Órla Ryan