Designer items, properties and luxury cars among items seized by Cab last year – The Irish Times
Vehicles, homes, cryptocurrency and designer items were among the items seized by the Criminal Assets Bureau (Cab) last year, as the amount of money returned to the treasury increased by 30%.
The bureau, which has a mandate to seize cash and property it believes to be the proceeds of crime, has seized increasing amounts of luxury goods from suspected criminals in recent years.
Its annual report shows that the Cab returned more than 5.5 million euros to the public treasury last year, including 4.4 million euros in revenue settlements, 1.14 million euros in proceeds of crime and 364,000 euros in social recovery. In total, the office said it “denied and deprived the criminals of their ill-gotten gains” for the sum of 10.9 million euros, which included large estates, Mercedes Benz cars and Rolex watches.
In one case, more than €5.4 million was returned by the office to six injured parties who were victims of cryptocurrency theft involving SIM card exchange fraud, which involves the transfer from a mobile phone number from one SIM card to another. The victim’s phone number is transferred to a SIM card under the control of the perpetrators, who then have access to the victim’s accounts linked to the phone number. The investigation dated back to 2019 and was conducted in conjunction with US Federal Homeland Security agents.
Separately, the bureau targeted an international organized crime gang suspected of laundering the proceeds of warrant fraud through a used car outlet. It led to the seizure of 84 vehicles, a trailer and €153,000 held in a professional bank account. The investigation focused on a UK-based gang where stolen funds laundered through various UK bank accounts were used to purchase vehicles in the UK, which in turn were sold in the store of used cars from Co Tipperary.
Cab received 321 “good citizen reports” during the year, one of which, made via a phone call, resulted in the seizure of a high-value vehicle worth around $80 000 €.
The office has ordered more than 63 properties worth around 15 million euros. He raised €653,000 with the sale of four properties last year.
In an online auction hosted by the Cab in December, 55 designer items, including handbags, watches, shoes and clothes, were offered for sale. Fifty pieces were sold for a total of €45,529. The remaining items will be reinserted into an auction.
The office seized a number of items from a drug dealer, including €29,110 in cash, a Kawasaki KX 250 motorcycle, a Honda CRF 250 motorcycle and a Westwood trailer for transporting motorcycles. The same person was also robbed of designer items worth over €30,000, which included a Gucci Ophidia wallet, Gucci belts, sneakers, baseball cap, jackets, Louis Vuitton sunglasses , wallets, backpack and Valentino sneakers.