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Man arrested over €20 million property fraud

Gardaí say mortgage charges were fraudulently removed from 12 properties.

Image: Shutterstock/Chinnapong

A MAN IN his 30s has been arrested in relation to a €20 million property fraud.

Gardaí attached to the Garda National Economic Crime Bureau (GNECB) arrested the man, aged 37, today. He is the ninth person to be detained by gardaí as part of this investigation.

The alleged fraud involves using fake documents to remove mortgage charges held by banks on properties. This allows the criminal to sell the properties without paying back the mortgage.

In this case, mortgage charges were removed from 12 properties, with six of these properties being sold.

The man is currently detained under Section 50 of the Criminal Justice Act, 2007 at Dundalk Garda station. He can be detained for up to 7 days.

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