Dundalk as it Happens
High Court rules monies seized from Murphy were proceeds of crime
The High Court has ruled that monies seized by the Criminal Assets Bureau from firms linked to associates of local Republican Thomas ‘Slab Murphy following an investigation into “an elaborate fuel-laundering scheme” are the proceeds of crime.
CAB launched their investigation into alleged fuel laundering by the Murphy family of Ballybinaby, Hackballscross, Dundalk, Co Louth in 2012.
The following year CAB obtained seizure orders in respect of monies held in many bank accounts belonging to a dozen companies and individuals the bureau say were involved in fuel laundering.
Orders had previously been made against some of those entitles while other parties involved in the investigation previously made settlements with CAB totalling €775,000.
According to a report in today’s Irish Examiner, Ms Justice Carmel Stewart yesterday held that a property seized from a number of other corporate entities, most of which have now been dissolved by CAB, are the proceeds of crime.
The property recovered included monies held in the frozen bank accounts totalling some €266,000.
The Judge said she was satisfied to make orders in respect of the property under Sections 3 and 7 of the 1996 Proceeds of Crime Act and the monies are now being held for use by the State.
The property in question belonged to firms including, Athboy BioFuels Ltd, TCF Fuels Benali Marketing, Save Fuels Ltd, Hibernia Fuels Ltd, Vienna Fuels and Shin Ram Ltd.
Read the full story in today’s Irish Examiner here.