DPP receives file on laundering of Northern Bank cash

The Director of Public Prosecutions is reportedly considering whether to bring any criminal charges in relation to the alleged laundering of the proceeds of the Northern Bank raid.

Reports this morning said Gardaí believed almost £5m (€7.3m) of the £26.5m (€38.7m) stolen during the robbery in Belfast 14 months ago was sent to the Republic by the Provisional IRA to be laundered.

Detectives believe £2.4m (€3.5m) in cash that was found during a raid on the home of a financial adviser in Farran, Co Cork, last February, was part of this £5m (€7.3m) stash.

A further £600,000 (€876,800) was recovered during follow-up raids, while another £1.5m (€2.2m) is believed to have been burned in a fireplace in the Cork Harbour area when the man looking after it panicked amid increased garda activity in relation to the case.

This morning's reports said a file containing almost 400 statements had now been handed over to the DPP for his consideration.