The Criminal Assets Bureau (CAB) has seized a property in East Clare, one of a number across country this week.
In pursuit of its statutory remit, CAB conducts investigations into assets derived from the proceeds of criminal conduct.
On foot of such investigations, an application is typically made to the High Court under the Proceeds of Crime Acts, 1996-2016 with the ultimate intention of seizing such assets and disposing of them for the benefit of the Exchequer.
Resulting from recent applications of this type, the Bureau took possession of a number of properties this week including one in East Clare.
CAB officers conducted an investigation into an Organised Criminal Gang in the south west of the country, incorporating William McInerney of Kealderra, Bodyke, Co. Clare.
Arising from that investigation, an application was made to the High Court under the Proceeds of Crime Acts, 1996 targeting various assets in the possession and control of William McInerney.
In the context of those proceedings, the Bureau provided evidence that William McInerney funded the purchase of the subject assets through the activity of the Organised Criminal Gang in the Munster region.
These proceedings culminated in orders being granted on the 17th of October 2016, pursuant to Section 3(1) of the Proceeds of Crime Act, 1996 as amended, over assets (house, livery yard incorporating 20 stables and 18.35 acres of land at Kealderra, Bodyke, County Clare) determined to have derived from the proceeds of William McInerney’s criminal conduct.
Further orders, pursuant to Section 4 and 7 of the Proceeds of Crime Act, 1996 as amended, were granted on the 17th of April 2024, and a stay was put on those orders until the 2nd of September 2024.
These orders were made on the 17th of April 2024 and were contested by William McInerney, with the Application of the Criminal Assets Bureau being successful before Justice Alexander Owens.
With regard to the house, livery yard and 18.35 acres of land, a stay was put on the order until 10am on the 2nd of September 2024, when the court appointed Receiver, Bureau Legal Officer, Kevin McMeel took possession of, with power to sell the said property by private treaty or public auction and lodge the proceeds of sale into a bank account for the benefit of the Central Fund.
In the course of the aforementioned proceedings, the courts were informed that €223,500 in cash was utilised to fund the purchase of the property in 2012, the source of which were identified as the proceeds of criminal conduct of William McInerney through his activity and association with an Organised Criminal Gang.
A complex money laundering scheme utilising various bank accounts and mediums in Ireland and Spain was identified and dismantled by the Criminal Assets Bureau during the course of this investigation by Bureau Officers.
The receivership order of the 17th April 2024 remains the subject of an appeal.
