A major search operation is taking place at a city garage PICTURE: MICHAEL COWHEY
THE Criminal Assets Bureau (Cab) has seized €45,000 in cash, 45 vehicles and £1,000 as part of raids in Limerick this Friday.
The Cab operation swung into action early this morning, targetting a criminal gang laundering their proceeds through a car sales outlet.
They were supported by a number of other agencies including the Emergency Response Unit, the National Drugs and Organised Crime Bureau, and the Garda Stolen Motor Vehicle Investigation Unit.
Eight searches were conducted in Limerick, Tipperary and Dublin. Of these, two residential premises, two car sales outlets and four professional premises were raided by officers.
A total of 45 vehicles were seized, along with €43,000, and £1,000 in cash, and a rolex watch.
Documentation in relation to the ownership of assets, financial documentation, mobile phones and electronic storage devices are currently being examined by Bureau Officers.
The probe centres on an Organised Crime Gang involved in the sale and supply of controlled drugs in the Limerick City and County areas, and who suspected of being involved in laundering the proceeds of their criminal conduct through a Car Sales Outlet in Limerick City.
A Bank Account held by one Car Sales Business was restrained by a Court Order, pursuant to Section 17(2) of the Criminal Justice (Money Laundering and Terrorist Financing) Act, 2010
No arrests have yet been made. The search operation is being viewed as a key development in the Cab investigation and will be seen as a major upset to Organised Criminal activity in the Limerick City and County areas.
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