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Dublin: 20 °C Thursday 6 August, 2020

Gardaí freeze bank accounts associated with €1.5m money laundering operation

Four of the five men arrested yesterday remain in garda custody.

102325128_10158222952933001_7413911330186330112_o Source: An Garda Síochána/Facebook

FOUR OF THE five men arrested yesterday as part of an investigation into money laundering in Dublin remain in garda custody, while the fifth man has been charged with obstruction. 

More than €65,000 in 14 bank accounts associated with the group has been frozen under money laundering legislation, gardaí said in an update today. 

Gardaí also seized €31,000 in cash and alcohol with an estimated value of €3,000.

102674087_10158222954768001_3450461706382213120_o Source: An Garda Síochána/Facebook

Yesterday, gardaí identified a number of bogus companies established by a criminal group and a large number of bank accounts set up in false names and those of so-called ‘money mules’.

Investigators established that around €1.5 million was laundered through these bank accounts, and that the money was obtained through cyber fraud, organised prostitution and theft.

Eight searches were carried out in Dublin yesterday, when the four men, who are Romanian nationals, were arrested on suspicion of criminal activity, money laundering and obstruction.

Documents pertaining to the bogus companies and bank accounts, IDs, cash and phones were also seized.

After a further search in north Dublin, another man in his mid-thirties was arrested. Approximately €30,000 in cash and documentation regarding fraud was seized. 

Four of the men continue to be detained for questioning at Ballymun, Clontarf, Store Street and Irishtown Garda Stations.

The man charged with obstruction has been released and is due to appear before a sitting of Swords District Court next month.

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Adam Daly

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