More than €2m worth of cars were seized by officers from the Criminal Assets Bureau (CAB) in Clare and Tipperary this morning.
As part of Operation Bagana, CAB, in conjunction with police officers from the Economic Crime Bureau attached to West Midlands Police in the United Kingdom, carried out operations in Clare and Tipperary as part of a cyber-fraud and money laundering investigation in the UK.
CAB said the investigation is focused on the assets of an international organised crime group who are suspected of laundering the proceeds of mandate fraud committed in the UK, via a used car outlet in County Tipperary.
The Criminal Assets Bureau has today, 24/09/20 seized €2million worth of vehicles as part of Operation Bagana.— Criminal Assets Bureau (CAB) (@criminalassets) September 24, 2020
Cash in amount of €21K also seized & in excess of €200K restrained in financial accounts.
Please see further -https://t.co/MO2me9kS6Y pic.twitter.com/Jdtxkqv9Xv
Searches were conducted at two residential premises and one business premises in County Clare, and at two residential and one business premises in County Tipperary.
A search of the one business premises in County Tipperary, a used car outlet, is ongoing.
85 cars, with an approximate value of €2m, one car transporter and two flatbed trucks have been seized, along with €21,000 in cash.
€200,000 has also been restrained from financial accounts linked to the group.
This morning’s search operation involved CAB officers, the Emergency Response Unit, the Stolen Motor Vehicle Investigation Unit, the Garda National Immigration Bureau, and the Garda Technical Bureau. All were assisted by the Revenue Customs Dog Unit.
Speaking about today’s operation, Chief Bureau Officer, Detective Chief Superintendent Michael Gubbins, said the operation was a "furtherance of the CAB mission to 'deny and deprive'."
He said: "Today’s search operation is an example of the ongoing cooperation between the Criminal Assets Bureau, An Garda Síochána and UK Police Forces in the investigation of International Organised Criminal Groups.