IRA 'buying UK property to launder bank raid proceeds'

The Government has reportedly claimed that the Provisional IRA is using money stolen from the Northern Bank in Belfast last year to buy property in the UK.

Reports this morning, quoting “a senior Irish political source”, claimed untraceable bank notes stolen during the £26.5m (€38m) heist on December 20 were being used to buy British property for cash.

The IRA reportedly divided the proceeds of the robbery into a number of parcels and began implementing the property-buying operation shortly after the raid.

Meanwhile, this morning’s reports claimed the IRA managed to launder a large amount of the stolen money during the Cheltenham Festival, while the Gardaí were still working to identify businesses in Ireland which they believe were used to launder some of the cash.