Over 200 Gardai in massive CAB swoop
Over 200 Gardai, which included 50 CAB (Criminal Assets Bureau) members, carried out early morning raids on 11 premises across Cork city and county.
The Armed Response Unit (ARU) was also in situ as officers executed a court signed warrant on premises targeting the activities of an organised crime gang.
It is understood that the organised gang are responsible for a number of burglaries and other crimes throughout the country.
It was one of the biggest Garda operations in County Cork in recent years and the raids took place from 6am on the premises.
Cash to the value of €31,000, 10 vehicles and four Rolex watches were among the assets seized.
CAB seized some high powered cars and Gardai also raided a firm of accountants whom it is understood the gang has been using to file tax returns. In addition, computers, mobile phones and large quantities of documents have also been seized.
It is also understood that this organised gang is also being investigated for theft and for the overpricing of construction jobs.
Gardai say the Cork-based family are involved in fraud, theft, deception, extortion, burglaries and in the sale and supply of drugs.
No arrests have been made. Under the Criminal Assets Bureau Act, 1996 - the bureau's statutory remit is to carry out investigations into the suspected proceeds of criminal conduct. It identifies assets of persons which derive, or are suspected to derive, either directly or indirectly from criminal conduct.
With a court signed search warrant, it then takes appropriate action to deprive or deny those persons of the assets and the proceeds of their alleged criminal conduct.
The legal basis for this action is the Proceeds of Crime Acts 1996 to 2016, and Social Welfare and Revenue legislation.