CAB is set to seize property worth Eur 4m in Dublin

The Criminal Assets Bureau (CAB) is set to seize and dispose of more property in Dublin worth close to €4 million.

News of the additional seizures comes after the confiscation by CAB this week of a block of apartments and retail space in Dublin city worth over €4 million.

The Irish Times has learned that CAB is now targetting more properties belonging to a Dublin criminal and a tax-evader with business interests in the city.

It is understood a number of smaller property seizures are also planned for later in the year.

A member of one well-known Dublin criminal family is currently being targeted by CAB.

The man owns an extensive portfolio of modest properties around Dublin, mainly in the west and south of the city.

He is related to a leading Dublin criminal figure.

His properties are expected to be seized by CAB in a matter of months. Many of the properties are in a state of disrepair but combined are expected to fetch well over €1.5 million.

The proceeds of the sale will be used to satisfy a substantial unpaid Revenue bill.

The sale of licensed premises in Dublin is also imminent in an attempt by CAB to settle a separate outstanding Revenue bill. The premises are expected to fetch as much as €2 million.

And The Irish Times has established that a number of other business and residential assets have already been earmarked for seizure and sale by CAB later in the year. However, it is not clear where these seizures will take place and exactly when they will happen.

News of the planned disposals comes just two days after CAB said it had seized a €4 million-plus retail and residential block in Dublin's north inner city.

Eagle House, in the Smithfield area, comprises 14 one-, two- and three-bedroom apartments as well as retail and storage space.

The premises were owned by Christopher Dunne (62) and Noel Duggan (42). Both men have convictions for handling stolen property.

They have been under investigation by the Criminal Assets Bureau for the last three years.

The bureau is pursuing the men for a settlement of over €4 million. The proceeds of the sale of Eagle House will go towards settling that demand.

The property will be sold at auction next month.

CAB was also responsible last year for the seizure and sale of a number of assets in the State belonging to an English drug-dealer Mickey Greene.

CAB was founded in October 1996 as a response to the murder of journalist Veronica Guerin. It carried out much of the work which led to the seizure of laundered cash belonging to John Gilligan, Gerry Hutch and Brian Meehan, the man convicted of murdering Ms Guerin.

It has focused most of its efforts on recovering the proceeds of crime from the criminal fraternity, targeting drug-dealers, armed robbers, smugglers and those involved in prostitution. But it has also played a key role in serving tax demands.