Documents seized in Waterford organised crime raids

Gardaí believe they are on the way to breaking a major crime operation focused on illegal moneylending and drug dealing following a search operation targeting properties in Waterford this morning.

The raids centred on one extended family in Waterford city who are believed to be involved in lending money to vulnerable people and then making them repay multiples of the original amount.

The criminals are alleged to be retaining their victims’ children’s allowance details and other social welfare books to ensure the money collected goes to them as part of their “loan” repayments.

About 40 people arrested as part of the operation in Waterford over the last year are believed to have been pressurised into committing serious crime by members of the family at the centre of the network.

Gardaí now hope that other individuals and families who have been targetted by the gang will come forward in confidence and give statements.

Up to 120 gardaí from several divisions, including the Criminal Assets Bureau and the armed support units, were involved in the raids which got under way in Waterford shortly before 7am.

No arrests were made but the operation is ongoing and today’s raids on up to 25 properties owned by the crime family, and believed to be brought with the proceeds of crime, is the latest phase.

Members of the Criminal Assets Bureau seized a large amount of documentation during the searches and this will form part of the direction taken by gardaí with the wider investigation.

Gardaí have been in touch with number of agencies, such as credit unions and the Money Advice and Budgeting Service (Mabs) which helps people targeted by illegal moneylenders.

“People are often slow to come forward,” one garda involved in the operation said. “Certainly we have documentation that would suggest it’s a pretty extensive network [of moneylending]… It’s frightening the level of control they have over people.”