The Criminal Assets Bureau sold the home of a convicted Limerick criminal for €225,000 at a public auction earlier today.
The spacious three-bed bungalow formerly owned by Brian Collopy, originally from St Mary's Park in Limerick city, was seized by CAB two years ago, after they found that it had been purchased with the proceeds of criminal activity.
CAB has been working closely with the gardaí in Limerick for almost three years in an effort to clamp down on the activities of the city's notorious crime gangs.
Brian Collopy (aged 33), who has 16 previous convictions, purchased Ashby House, located in the picturesque village of Fedamore seven miles from Limerick city, for €150,000 cash in March 2002.
The following year the Criminal Assets Bureau secured an order in the High Court, freezing the property and thereby preventing Collopy from selling it.
Mr Collopy mounted a 12-month long legal battle against CAB. Last December however, he consented to vacate the property and the house was sold this afternoon at a public auction held in Pery's Hotel in Limerick.
Situated on a three quarter-acre site, Ashby House was withdrawn from auction at €215,000 but it was sold minutes later following private negotiations for €225,000.
Limerick auctioneers Nestor Shannahan who said the bungalow was located in a "much sought-after area" had initially placed a guide price of €180,000 - €200,000 on the Co Limerick property.
It is believed Brian Collopy left the house and moved back to his native St Mary's Park in the city following the murder of crime boss Kieran Keane two years ago.
Kieran Keane was murdered in a gangland style shooting on January 29 2003, and five men are serving life sentences for his murder. His brutal murder was part of a violent, much-publicised feud that has claimed four lives in as many years.
Gardaí believe that Brian Collopy, who has previous convictions for for larceny, car theft and possession of drugs, has links to of one of Limerick's main feuding factions.
Mr Collopy is also facing a CAB demand for an outstanding tax and social welfare bill for almost €500,000.