Kinahan and Mansfield Jnr's €4.5m failed property deal

CAB SEIZE €1M MANSION GIVEN TO CARTEL

- JOHN HAND

>Investment bid turned sour in economic collapse

>Businessman handed over house in repayment

DANIEL Kinahan's mob-handed Jim Mansfield Jnr two suitcases stuffed with €4.5million for a property investment which later failed, it was claimed yesterday.

The High Court heard details of how the interaction took place but that the deal subsequently collapsed as the businessman's fortune "deteriorated”.

In 2014, in an effort to reimburse the gang, Mansfield Jnr handed control of a gated mansion to gang boss Kinahan and his No2, Thomas “Bomber” Kavanagh, as well as making cash payments.

The Criminal Assets Bureau yesterday secured an order to seize the property, No 10 Coldwater Lakes in Saggart, South Co Dublin, which is worth in excess of €1million. It also recovered around €50,000 in cash.

Shelly Horan BL for CAB claimed Kinahan had occupied and controlled the house from 2014 onwards due to the nature of items found inside it. The court, which sat in Croke Park, also heard there were efforts to legitimately transfer the Dublin property to Kavanagh.

CAB outlined how the cartel had hoped to make investments in the property market through Mansfield Jnr. In 2009 two suitcases containing €4.5million were handed over to the businessman.