A CAR dealer avoided jail after the Criminal Assets Bureau (CAB) claimed his helicopter and red Ferrari were bought with the proceeds of crime.
But the two vehicles owned by Roger O'Grady (29) must be handed over to CAB along with €26,000 before the end of the month, the High Court ruled.
The case was before the court in Cork in relation to O'Grady, who has a number of addresses in Roscommon and Co Cavan. He was arrested on Saturday in Roscommon in relation to contempt of High Court orders made last July and August.
The contempt relates to O'Grady's failure to hand over assets – including a red Ferrari F355, a Robinson R22 helicopter and more than €26,000 in cash – after orders were made under the Proceeds of Crime Act.
CAB alleges that the assets were bought with the proceeds of crime.
The court heard that at previous hearings there were orders made in relation to other vehicles, an Audi and a BMW car. These vehicles were sold by O'Grady to "innocent" third parties.
Benedict O Floinn, counsel for CAB, told the court that the accused was arrested driving a Range Rover Vogue on Saturday in Roscommon.
Mr Justice Kevin Feeney heard that CAB's legal officer, Declan O'Reilly, had been appointed receiver in respect of the assets.
The judge said he would give the accused an opportunity to hand over the outstanding assets to CAB legal officer Mr O'Reilly by November 22.
Details were given to the court of a bank account in Claremorris, Co Mayo, from which monies would be transferred to the CAB legal representative.
The judge also ruled that O'Grady should undertake to give a full statement of affairs in regard to all vehicles held at Derrylin, Co Fermanagh.
The Range Rover Vogue he was driving while arrested must also be given to CAB.
O'Grady gave an undertaking under oath that he would comply with the direction of the court.
Mr Justice Feeney warned that "the court would take a particularly strong view" if the orders was not complied with on this occasion.
He adjourned the case until November 26 and bailed O'Grady on a €100 surety to appear before the High Court in Dublin on that day.