Scrap man who paid CAB €17m dies in Canaries holiday fall
Published 16/05/2014 | 02:30
A FORMER scrap dealer who made the largest tax settlement in the history of the Criminal Assets Bureau has died following an accident in the Canary Islands.
Charlie Duffy (72), who owned a successful car parts business, paid the CAB €17,142,526 when they uncovered a network of hidden bank accounts he held in Jersey.
The multi-million settlement which resulted from an investigation into organised crime and planning corruption, was also one of the largest payments of back taxes by an Irish citizen ever made.
It is understood Mr Duffy died last week after a fall while on holiday in the Spanish island of Lanzarote. No announcement of the death has been made but it is understood his body will be returned to Ireland this weekend.
Originally from Cabra, west Dublin, Mr Duffy made his fortune as a scrap dealer and motor parts dealer in the old markets area of the north inner-city. He later owned the Duffy Car Parts business on the Long Mile Road.
The deceased came to CAB's attention as a result of Operation Alpha set up in 1996 to investigate the financial affairs of former armed robber Gerry 'The Monk' Hutch and his gang.
Over a 10-year period the investigation resulted in the payment of over €40m in taxes from Hutch and the other targets of the operation.
In September 1997 while tracing the hidden wealth of Matt Kelly, a convicted criminal linked to Hutch, Bureau officers discovered that Duffy transferred over £800,000 to Barclays Bank in Jersey.
When officers travelled to Jersey they discovered that one of Duffy's hidden accounts held over stg £10m.
CAB had expected a protracted battle with Mr Duffy but he took them by surprise when he gave them the money in December 2001.
When it was converted into euro the total payment came to a staggering €17,142,526.