CAB Smash Money Laundering ‘Bank'

€1million seized as officers swoop on businesses & homes in 13 raids

- Neil Leslie

The Criminal Assets Bureau has smashed a multi-billion euro money laundering ring acting as a “bank” for Irish crime gangs.

Gardai confirmed last night 13 sites were searched in two separate raids yesterday resulting in the seizure of funds totaling €1,035,093.

The operation was targeted against a racket using foreign-owned businesses operating here to launder dirty money.

The “service” was washing the proceeds of drug dealing and other crimes for a number of different Irish gangs, sources said.

It’s understood Chinese restaurants were among the fronts.

A major Garda operation yesterday was described as a “significant development” in dismantling the network.