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20/03/2008
Men In Court Over £5 million Money Laundering Charge
Two men arrested in connection with money that may have come from the IRA's Northern Bank raid in Belfast, are to appear in court.
Cork Garda arrested the men on suspicion of money laundering offences connected with almost £5 million allegedly sent to the men by the Provisional IRA.
The two men are expected to appear at Cork District Court on Thursday morning charged with money laundering. One of the men will also appear on charges of possessing ammunition.
The arrests are reported to be part of a year-long investigation, which began in February 2005 when £2.4 million was found at a Co Cork home belonging to a financial advisor.
Garda believe that the find was only part of £4.9 million sent to the accused for laundering.
A total of £26 million was taken during the Northern Bank raid in December 2004, much of which is still unaccounted for.
An extensive file on the case was sent to the Director of Public Prosecutions as part of the Garda investigation, code named Pheonix.
See: Northern Bank robbery accused bailed
(DW)
Cork Garda arrested the men on suspicion of money laundering offences connected with almost £5 million allegedly sent to the men by the Provisional IRA.
The two men are expected to appear at Cork District Court on Thursday morning charged with money laundering. One of the men will also appear on charges of possessing ammunition.
The arrests are reported to be part of a year-long investigation, which began in February 2005 when £2.4 million was found at a Co Cork home belonging to a financial advisor.
Garda believe that the find was only part of £4.9 million sent to the accused for laundering.
A total of £26 million was taken during the Northern Bank raid in December 2004, much of which is still unaccounted for.
An extensive file on the case was sent to the Director of Public Prosecutions as part of the Garda investigation, code named Pheonix.
See: Northern Bank robbery accused bailed
(DW)
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