Cash seized from firms ruled proceeds of crime

This report is a localnews.ie summary based on public court reporting and records; sources are listed below.

Cash seized from firms linked to associates of Thomas ‘Slab’ Murphy was ruled proceeds of crime by the High Court, as reported on 16 April 2018. The funds followed a Criminal Assets Bureau investigation into alleged fuel laundering linked to companies associated with the Murphy family in Hackballscross, Dundalk, County Louth.

Ms Justice Carmel Stewart made orders covering property held in frozen bank accounts, totalling about €266,000, with the money to be held for State use. The property belonged to several companies, including Athboy BioFuels Ltd, Save Fuels Ltd, Hibernia Fuels Ltd and Shin Ram Ltd.

The judge found that the firms formed part of an elaborate fuel laundering scheme involving marked mineral oil being changed into white diesel. The court also noted links including shared banking addresses, overlapping company directorships and transactions that made no commercial sense.