A man alleged by the Criminal Assets Bureau to be one of the biggest drug-traffickers in Munster had £19,000 in a black plastic bag when he went with another man to buy a house site in 1996, the High Court was told yesterday.
With the help of what the head of the CAB described as a legitimate £50,000 mortgage, the shell of a four-bedroomed detached house was built and the house had been fitted out.
Chief Supt Felix McKenna said he believed the site, house and three motor vehicles, including a 2001-registered car, were bought with money which was directly or indirectly the proceeds of crime.
In proceedings taken by the CAB under the Proceeds of Crime Act, Mr Justice O'Sullivan has made an order prohibiting the media from identifying the men. The CAB is seeking an order against both men "freezing" all the property, which would prevent them from being sold or disposed of.
Yesterday Chief Supt McKenna said his belief that the property and other items stemmed from the proceeds of crime was based on statements supplied to him by other gardai and on intelligence and other material.
The hearing continues today.