Criminal Assets Bureau seized Kildare property and sold it for €400k

A property in County Kildare was among twenty seized assets sold by the Criminal Assets Bureau (CAB) in 2024, according to the agency’s latest annual report.

CAB said it targeted a number of high value assets to include four properties across counties Dublin, Kildare and Wexford as part of an investigation into an organised crime group involved in drug importation and distribution.

The report details that one of the Bureau’s completed sales during the year involved a four bedroom property with attic conversion situated in Co. Kildare.

CAB said this property "was purchased in 2004 for the sum of €257,000 and had extensive development work carried out that has been estimated to cost in the region of €250,000.”

CAB obtained High Court orders under the Proceeds of Crime Act and in 2024, the Bureau sold this property, via public auction, for €410,000.

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The Kildare sale was part of what Commissioner Drew Harris described as “the highest number [of forfeited properties] sold in any one year” by the Bureau.

In total, CAB denied and deprived criminals of assets worth €17.05 million last year.

The Bureau said the proceeds of crime actions, together with tax and social protection recoveries, “yielded in excess of €17.052 million to the Exchequer in 2024.”

Publishing the Annual Report, Justice Minister Jim O’Callaghan said:

 “I commend the Criminal Assets Bureau for another successful year, as is outlined in its 2024 Annual Report. Returning over €17m to the exchequer is a significant achievement.

"The positive role of the Criminal Assets Bureau in tackling crime cannot be overstated. We know that depriving criminals of the proceeds of criminal activity is an effective tool in building safer communities. 

"I also want to recognise the range of agencies and bodies who work with the Bureau. An Garda Síochána is a vital partner, as are the Office of the Revenue Commissioners and the Department of Social Protection. The Bureau also continued its engagement with the Cross Border Joint Agency Task Force and with the Police Service of Northern Ireland. Cooperation is crucial in constraining the operations of those who intend on doing harm, to our communities”

Last week, Minister O’Callaghan announced the allocation of over €4 million to Community Safety projects across the country. This fund redistributes the proceeds of crime back into local communities. 42 projects will be funded through the Community Safety Fund, which is almost double the number of projects supported through the first allocation from this fund in 2022.

Minister O’Callaghan continued:

“The Criminal Assets Bureau’s excellent work allows us to help communities which have been harmed by criminality.

I want to see more funds being redirected from the hands of criminals into communities where that money can do good. That is why I am progressing legislation which will strengthen the State’s ability to identify, freeze, and confiscate assets linked to serious and organised crime.

The Proceeds of Crime Bill is making its way through the Oireachtas currently. Once passed into law, the Criminal Assets Bureau will have stronger investigative powers and will be able to dispose of assets much more quickly than is currently the case. I am committed to ensuring that the Criminal Assets Bureau have the powers and resources to continue their important work.”

Some of the Bureau’s other key achievements of the year included:

•                    46 search operations conducted, consisting of 227 individual searches in 13 counties.

•                    21 new cases commenced under the Proceeds of Crime Act during 2024.

•                    Submission of 30 new Proceeds of Crime files to the Criminal Asset Section of the Chief State Solicitor’s Office for progression through the courts.

•                    The Bureau held its second publicly advertised online auction which received global interest, realising in excess of €216k.