Two Chinese nationals arrested in a money laundering operation in Dublin
By The Headlines, October 30, 2023 | 07:05 PM
As part of an investigation into a money laundering network operated by Chinese nationals in Dublin and connected to Irish affiliates of the Kinahan gang, the Criminal Assets Bureau (CAB) has detained two suspects.
10 allegations against one person and 7 charges against the other are connected to the same purported money laundering network.
A wider group who have resided or worked in Wicklow and Dublin are also said to be involved. It is believed that some of the companies they are associated with serve as fronts for the purported money laundering.
Since its founding in 1996, CAB has been at the vanguard of combating individuals suspected of being involved in organised crime; nonetheless, the great majority of its action is focused on attempting to seize illegal assets. For the bureau, investigations in which suspects are also charged with crimes are less common.
The two suspects were taken into custody last Friday as a consequence of a lengthy investigation into CAB, which has lasted for more than three years and resulted in the seizure of assets from other individuals. The primary focus of the CAB investigation has been seizing assets, mostly currency, on the grounds that it may be the profits of criminal activity.
Other suspects, including the two individuals arrested last Friday, have been the focus of an investigation into allegations that they had distinct roles in the money laundering network, though, as a result of the ongoing assets-based inquiry.
Although there are already 17 criminal charges against the two persons that CAB detained last Friday, no unfavorable conclusions have been made about them as of yet.
Following the results of coordinated searches conducted more than three years ago, during which more than €1 million in cash was discovered, the scope of the larger CAB investigation increased. Additionally, CAB found evidence that the people doing the money laundering were closely collaborating with an Irishman who had ties to Christy Kinahan Sr., the founder of the Kinahan gang.
The Chinese-run money laundering network that was the target of the raids more than three years ago is suspected by the Gardaí of having received money for a long time from various Irish crime organisations and laundered it for them through enterprises.