CAB moves to seize assets worth more than €500,000 from key lieutenant of the Kinahan crime cartel
The Criminal Assets Bureau has today moved to seize assets worth more than €500,000 from a key lieutenant of the Kinahan crime cartel.
It was in the High Court today seeking to sell cars and jewellery belonging to Crumlin man Liam Byrne and ten associates.
Liam Byrne is a brother of David Byrne who was murdered in the Regency Hotel in February last year.
Within weeks of the Regency hit the Criminal Assets Bureau (CAB) carried out massive seizures at multiple locations across the city targeting the assets of Liam Byrne and his associates.
Homes in Crumlin were raided and searched where cash and jewellery were seized, and car sales businesses operated by Byrne had high value cars and motorbikes seized and driven away on transporters to the armed camp in the Curragh where they have remained.
At the time they were seized the cars and bikes were worth a collective €660,000. They are now worth an estimated €550,000.
Judge Carmel Stewart heard the application by the CAB today to lift an order putting a stay on the sale of the vehicles.
Council for the CAB, Remy Farrell, told the court that the vehicles had depreciated by €111,000 since they were seized and the CAB were seeking to sell them now as they are an asset that is falling in value.
He proposed that any cash from the vehicle sales could be held secure pending the outcome of proceedings by the CAB against Byrne and his associates.
Mr Farrell argued that the vehicles were not of sentimental value but being used as currency and being made available to people.
But separate barristers for Byrne and his associates made applications to have the stay on the sale of the cars adjourned as they had not received instructions from their clients on the matter.
Judge Stewart adjourned the matter to March 20 to allow “specific applications be made by specific individuals in respect of specific vehicles”.
Applications for legal aid will be heard on April 24.