Garda raids find evidence of criminals’ crypto currency dealings

Six premises targeted in Criminal Assets Bureau-lead operation in Bray as cash, phones and computers seized

A Criminal Assets Bureau-led series of raids took place in Bray, Co Wicklow

A Criminal Assets Bureau-led series of raids took place in Bray, Co Wicklow

 

The Criminal Assets Bureau (CAB) has uncovered further evidence of Irish criminals’ involvement in sophisticated cyber crime.

Gardaí investigating a fraudster and drug dealer carried out Cab-led raids in Bray, Co Wicklow, and found the evidence of crypto currency trading.

The target is a criminal figure from Bray who has been known to the Garda since his teenage years.

Six premises were raided, including two residential addresses, two business premises linked to the operation’s target, and the offices of financial and legal professionals.

The accountants’ and solicitors’ offices were searched as part of the Cab’s efforts to find evidence of the proceeds of crime and the purchase of assets that cannot be explained by legitimate declared income.

About €7,500 in cash was seized along with mobile phones, lap tops and other electronic devices, with evidence relating to the use of virtual currencies also discovered.

No arrests were made. However, Garda sources said the raids were focused on gathering evidence relating to the proceeds of crime.

The devices and documents seized will now be analysed to determine if they contain evidence that could lead to the confiscation of assets derived from crime.

The main target of the raids is in his late 30s and has has a series of convictions for fraud and road traffic crime. Gardai also believe he has been dealing drugs for many years.

He has previously destroyed evidence during drugs searches by the Garda. And he was once caught trying to import a knife, stun gun and revolver that fired gas cannisters.

Friday’s operation was the latest in a series of so-called super raids against top and middle-tier criminals. The bureau has focused more on financially damaging emerging crime gangs in recent years, as well as more established criminals.

Cab was assisted in its searches today by criminal assets profilers - officers who monitor and gather evidence on criminal figures in their areas whose wealth appears to be growing.

The was armed back-up from the Emergency Response Unit, and the Garda’s Wicklow divisional search team also assisted in the operation.