Couple's assets frozen in alleged crime cash probe

A luxury bungalow and motor home have been seized in a £300,000 (€430,000) offensive against an alleged loyalist paramilitary booze and counterfeiting racket, it emerged today.

Six bank accounts, insurance policies and shares belonging to Walter and Finulla Black were also frozen at the Northern Ireland High Court.

Assets Recovery Agency chief Alan McQuillan obtained an interim receiving order after alleging Mr Black, of Birches Road, Portadown, Co Armagh, was profiting from crime.

It was claimed in court on Wednesday he is associated with the Loyalist Volunteer Force.

Mr McQuillan said today: “We have alleged that when Mr Black’s home was searched by police in 2001 a firearm, ammunition, a colour photocopier and counterfeit currency was recovered. A still was also found.”

Although there is no suggestion that Mrs Black committed any crime, she was included in the action because some assets under investigation were held in her name.

Once the receiver has assessed the case the Agency will apply for a Civil Recovery Order under which recoverable property can be forfeited.

ARA staff spent months probing the couple’s finances after the case was referred to them by the Police Service of Northern Ireland.

“This has included the search of their home and interviews with Mr and Mrs Black,” said Mr McQuillan.

“Through this we have found that, while some of the assets held by them are explained by legitimate sources of income, others are not.

“To obtain the Interim Receiving Order ARA has persuaded the High Court that the Agency has a good arguable case that a proportion of the assets specified in the Order represents the proceeds of crime and may later be forfeited under the provisions of the Proceeds of Crime Act.”