Courts / Limerick / Report

CAB claims that car dealership was used to launder drug money

Date
2022-12-07

Stage
Hearing Or Decision

Primary locality
Limerick

Summary

In a High Court hearing on 7 December 2022, the Criminal Assets Bureau (CAB) sought to have 111 cars seized from Stephen Bawn Motors Ltd and €20,000 in a linked bank account declared proceeds of crime under the 1996 Proceeds of Crime Act. The cars, sold at auction for €820,000, were bought by the dealership, which began trading about seven years earlier, with money allegedly derived from illegal drug dealing. CAB alleged that the dealership was used by individuals with links to local, national and international criminals, including Christy Keane and the Kinahan gang, to launder drug proceeds and that the owner, Mr Mike Nash, was involved in drug importation and sale. The company and Mr Nash denied the claims. CAB also cited VAT fraud and other illegal activities. The case is pending before Mr Justice Alexander Owens.