Suspected drug dealer’s €7m empire frozen as part of major probe
Colin Armstrong, who lives with his partner at a luxury home at Glenavy, Co Antrim, owns apartments in the south of France and Dublin.
His properties, worth an estimated £4.8m (€6.9m), are under the control of an interim receiver appointed by the High Court in Belfast.
It followed an 18-month-long undercover investigation the biggest by the Assets Recovery Agency (ARA), headed by its Northern Ireland assistant director Alan McQuillan, since it was set up in February 2003.
Armstrong, 38, who has alleged links with the paramilitary Loyalist Volunteer Force, has been investigated several times by police probing drug smuggling, but has never been charged because of insufficient evidence.
Two of his companies and eight personal and company bank accounts have also been frozen.
Northern Ireland Office security minister Ian Pearson said: "This is another significant action by the ARA and clearly indicates the agency's commitment to deprive criminals of their profits."
Armstrong lives at Tullynewbank Road with his partner Geraldine Mallon, who is also a director of some of the companies, and who held some of the assets in her own name, according to the ARA.
The High Court in Belfast, where an order was granted to freeze the assets, was told that Armstrong was allegedly linked to drug trafficking between Belgium and Northern Ireland in 1994 and was also involved in importation and selling of drugs over a period of years.
At first he had links with the Ulster Volunteer Force and then sided with the LVF after the organisation split in mid-Ulster, where Armstrong owns most of his properties.
The receiver, who has not been named, will carry out a full independent investigation into Armstrong's affairs before submitting a report to the High Court.
He purports to own a number of companies, on both sides of the Border, including two identified as Modern Homes (NI) Ltd and Tudor Road Properties Ltd.
As part of their inquiry, the ARA worked closely with the Criminal Assets Bureau in the Republic, where he was also linked with various car dealerships.
Documents have also been seized.
Armstrong will be allowed to continue living at his Glenavy home, but none of his properties can be sold off.