The RUC believes a small drinks distribution business in south Armagh is a cover for a major money-laundering operation involving drugs-trafficking and VAT fraud, it was alleged in the High Court in Belfast yesterday.
The Crown lawyer who made the allegation opposed a bail application by Mr Raymond Mackin (26), from Newry Street, Crossmaglen. Mr Macken was arrested last week during a cross-Border investigation into money laundering.
The Crown lawyer said over £7 million was transferred from the drinks business to Dromadd Enterprises Ltd. A further £14 million was transferred from Dromadd Enterprises to an English company and £20 million was then transferred back to Dromadd.
Mr John Kearney, defending, said most of the references to money did not relate to the defendant and there was no suggestion he was involved in transferring money.
Refusing bail, Lord Justice Nicholson said the investigation indicated the huge profits being made by gangs involved in drugs.