Arrests in crackdown on loan shark gang

Gardaí investigating a major illegal money-lending ring — involving members of an extended family who have bought up to 10 houses for cash despite being on social welfare — arrested six people yesterday morning.

The early morning arrests were carried out in the Ardmore Park and Ballybeg estates of Waterford City and followed a major search operation earlier in the month which involved the Criminal Assets Bureau, regional armed support unit, and local gardaí.

Up to 30 gardaí were involved in yesterday’s activity which saw three men and three women, aged from their 20s to 50s, detained and brought to Garda stations in Co Waterford for questioning.

They can be held for up to seven days under organised crime legislation.

It is understood the six people arrested are suspected of being at the centre of an illegal moneylending ring which has been operational for several years, as well as extortion, drug-dealing and the sale of counterfeit or smuggled tobacco.

Detectives have been examining the lifestyles and possessions of the suspected gang members, who are all part of an extended family or are associates of that family, in recent months.

They have investigated the ownership of 22 houses and believe up to 10 of those were bought for cash that was the proceeds of crime, over the past couple of years.

Conveyancing documents covering the purchase of the houses have been obtained from solicitors’ offices and are also being examined.

They are also looking at the amount of money spent on furnishing the houses, which includes €10,000 spent tiling just one kitchen, as well as cars purchased by the suspects.

Despite having no obvious income apart from social welfare, some of the suspects have also been on numerous foreign holidays lately, with a number of them just back from Australia.

“It’s the whole lifestyle that’s being examined,” one detective said yesterday.

The searches carried out earlier this month yielded documentation as well as about €20,000 in cash, a firearm, drugs and property suspected of being stolen.

“We believe they are illegal loan sharks and extorting money from people as well, along with being involved in the sale of drugs and then dealing in the sale and supply of tobacco,” the detective said. “Hopefully we have disrupted their work.”

It is believed the gang are giving loans to vulnerable people at extortionate rates and, in some cases, holding onto children’s allowance and social welfare cards and books to force their victims to make repayments.

Gardaí also suspect as many as 40 people arrested as part of their anti-organised crime operation in Waterford over the last year were pressurised into committing serious crime by members of the gang.

They have appealed for anyone targeted by the crime family and their associates to come forward with information.

The suspects arrested yesterday are being held under section 50 of the 2007 Criminal Justice Act in various stations throughout the Waterford Garda division.