Authorities Seize 170+ Vehicles As Part Of Money Laundering Investigation

Ireland’s Criminal Assets Bureau has seized approximately €2 ($2.3 / £1.8) million worth of vehicles as part of Operation Bagana.

The operation was a joint effort with the Economic Crime Bureau of the UK’s West Midlands Police and was conducted as part of a cyber-fraud and money laundering investigation.

Authorities didn’t go into many details, but said the investigation focused on an “international organized crime group who are suspected of laundering proceeds of mandate fraud committed in the UK via a used car outlet in Co. Tipperary.”

Also Read: Classic Car Buyers Bilked For $4.5 Million In “Wide-Ranging Fraudulent Scheme”

As part of the investigation, the Criminal Assets Bureau seized more than 80 vehicles including multiple Land Rovers, BMWs, Hyundais and Volkswagens. Pictures also show an Audi A8, a Lexus and a couple of Skodas.

Authorities also seized €21,000 ($24,426 / £19,143) in cash and froze more than €200,000 ($232,629 / £182,322) in financial accounts linked to the group.

Not to be outdone, the West Midlands Police seized 90 vehicles and arrested four people according to RTE. Given this, the overall haul far exceeded the €2 ($2.3 / £1.8) million worth of vehicles taken by the Criminal Assets Bureau alone.

RTE says the gang stole money from UK businesses through “CEO impersonation and invoice redirect fraud,” and then used cars to launder their ill-gotten gains. As the publication explained, the group would buy cars in the UK and then transport them to Ireland to be sold through a car dealership that was acting as a front for the money laundering operation.