Dublin — The Criminal Assets Bureau (CAB) has announced a highly successful year, detailed in its latest annual report to be presented by the Justice Minister at the Cabinet meeting today. The report reveals that in the past year, CAB returned a total of €17 million to the State and seized a record number of properties acquired through criminal activities.
Record Seizures and High-Value Sale
The report highlights that the Bureau seized 20 homes as proceeds of crime, marking the highest number recorded in a single year since the agency’s inception.
A significant asset included in the seizure figures was the former Dublin residence of well-known figure Daniel Kinahan, located in Saggart. The property was sold at auction, achieving a price of over €930,000. This figure represents the highest sale price ever attained by the CAB for a single confiscated asset to date.
Financial Breakdown
The total €17 million returned to the State in 2024 was sourced from various channels, illustrating the multi-faceted approach of the Bureau:
- €13 million recovered through Revenue (tax on ill-gotten gains).
- €5 million generated from property sales.
- Approximately €500,000 recovered from social welfare-related assets.
The findings underscore the government’s continued commitment to dismantling organised crime networks by targeting their financial foundations.
