The Criminal Assets bureu has seized almost €11 million in 2021 from criminals according to it’s 2021 annual report.
The Bureau was established to take the proceeds of crime – whether in the form of recovering stolen goods and properties and businesess aquired using the proceeds of crime.
CAB returned 5.5 million to the State and also returned €5.5 million to 6 victims of cryptocurrency theft.
The process can take up to 7 years from seizure to releasing the funds to the state – new legislation has been promised to shorten this time frame.
Along with organised crime groups, it also targeted tax evaders and social welfare fraudsters.
189 searches in 22 counties, resulted in the seizure of €3 million worth of cash, property, cars, jewellery and designer goods. Seven houses were confiscated, including three from a Chinese cannabis dealing gang in Tipperary and Cork, three in Clare and one from an organised crime gang based in Kerry.
CAB now has 61 houses under it’s control.
In 2021 CAB seized 84 cars from a car dealership in Co Tipperary and €153,000 from a related company bank account in Kerry, all from a company called Autology run by the Khan family from Lithuania.
This was a scheme whereby funds gained by fraud were used to establish businesses.
A new fund to use the money seized to improve community safety was launched this year with an initial fund of 2 million euros.
The Community Safety Innovation Fund will invite applications for funds each year to deliver measures to improve community safety.
