Man still held in money laundering investigation

A man in his 40s, who was arrested in Cork after Gardaí received a tip-off that bank notes were being burnt, remains in Garda custody this morning.

He was arrested at his home in Passage West on Friday night and is being questioned by Gardaí at Gurranabraher.

Meanwhile, the businessman, in whose house £2.3m (€3.3m) was found on Thursday, was released yesterday afternoon.

57-year old Ted Cunningham from Farron in County Cork is also believed to have a share in a nursing home near Tullamore which was raided by the Criminal Assets Bureau yesterday morning.

It's expected a file on his case will be forwarded to the DPP.