Seven Years For Gang Launderer

Kinahan crony was caught with €350K in crime cash

- Paul Neilan

A trusted, high-level member of the Kinahan gang who was caught with more than €350k in crime cash has been jailed for seven years by the Special Criminal Court.

Jason Reed (40) was also found to have five luxury Rolex watches, an encrypted Aquarius phone and to have bought a mobile home for cash, despite having no source of income.

Reed pleaded guilty last month to money laundering and possessing the proceeds of crime at a car park on Donore Road, Drogheda, Co Louth, when he was in possession of €289,770 and £62,025 (€70,207) in cash in a blue Nike bag.

Reed, of Maelduin, Dunshaughlin, Co Meath, also pleaded guilty to money laundering at his home after €32,330 and £390 (€441) was found there on May 11 of last year.

At the Special Criminal Court yesterday, presiding judge Mr Justice Tony Hunt said that Reed was a “trusted, mid-to-high level member of a transnational criminal organisation”.