THE Criminal Assets Bureau and local gardai have struck a major blow against a top target in Limerick city.
The High Court gave the go-ahead for the confiscation of the assets following a lengthy operation, codenamed Portland, on a number of suspects living in the Moyross area of the city.
The operation was spearheaded by local garda units and also involved asset profilers, based in the city, and bureau officers from Dublin.
The High Court was told that during a garda raid on McCarthy's home in Moyross, €7,500 in cash was seized as well as his Rolex watch and another Rolex, owned by his partner Linda Mullane, valued at €9,900.
Less than a month after the raid gardai became aware that McCarthy (33) had made a substantial cash withdrawal from a local bank. He was stopped and searched and gardai confiscated €7,640.
They later found a further €11,670 in a bank account and this was frozen in the courts under the Criminal Justice (Money Laundering and Terrorism) Act 2010.
Inquiries were also made into social welfare payments to Mullane (32), who was served with a demand for the return of overpayments, totalling €71,933.
Mullane's father – Anthony Mullane, of Mayorstone Park – was served with an overpayment demand for €61,590 after benefits from 2004 to 2011 were disallowed.
Mullane's brother, Anthony Mullane Jnr, received a social welfare overpayment demand for €4,198.
The High Court confirmed all of the confiscation orders but under the terms of the agreement directed that €2,500 should be withheld to allow the payment of legal fees.
McCarthy has 29 previous convictions.
His brother, 'Fat' John McCarthy, and nephew, David, narrowly survived an AK-47 attack at their home in 2002.
The same year, McCarthy made a threat to kill a rival and was later convicted.
In 2003, following the murder of Kieran Keane by the McCarthy-Dundon gang, McCarthy was photographed celebrating outside the home of his cousins – Kieran 'Rashers' Ryan and Edward Ryan – with one of the five murderers, James McCarthy.
Another uncle, John Ryan – brother of murdered Eddie – was shot dead in reprisal for Keane's death months later.
In 2004, McCarthy was convicted of committing violent disorder and was jailed for three years in 2005 for assault causing harm.
He was convicted in 2009 for unlawful possession of drugs and engaging in threatening and abusive behaviour.
In 2010, Kieran Ryan and Eddie Ryan were jailed for a total of 14 years for possession of a firearm.
His brother John McCarthy is serving a 14-year year sentence, imposed by Limerick Circuit Court, for the possession of heroin with intent for sale and supply.
McCarthy also has convictions for several road traffic offences.