Gardaí investigating a significant fraud gang based in Waterford have arrested nine suspects and seized the biggest quantity of cryptocurrency ever taken from criminals specialising in frauds based around bogus text messages.
The group operating from Waterford has links to the Black Axe gang, a big international fraud and money laundering syndicate which originated in Nigeria. However, the man gardaí believe has been running the fraud gang in Waterford is Irish.
“The investigation is also conducting enquiries into persons of varying nationalities, multilinguistic, fluent in a number of languages to deceive their victims both nationally and internationally,” the Garda said.
To date nine members have been arrested in the Republic, with two already charged. Some €1.12 million in cryptocurrency has been seized over the last two months and €30,000 in accounts frozen. Gardaí have also seized two vehicles – a VW Golf and a Mercedes – and are investigating the ownership and purchase of a property in Dubai.
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The two men already before the courts are facing a variety of charges including alleged money laundering, thefts and frauds.
[ The Black Axe gang: a new frontier in Irish crimeOpens in new window ]
The Garda’s Waterford Division Crime Hub has been carrying out a major criminal inquiry into the Irish-based gang, with assistance from the Garda National Economic Crime Bureau.
The Garda’s National Cyber Crime Bureau has also been involved as well as Europol and the Garda’s Passenger Information Unit, which tracks movements in and out of the Republic. Garda liaison officers in Irish embassies abroad were also dealing with police in those countries part of the inquiry.
