A millionaire haulier accused of making his fortune from smuggling has agreed to hand over a helicopter and more than £2 million in cash to the Serious Organised Crime Agency (SOCA).

Armagh haulage company boss Mark McKinney (44) and his wife Beverley (46) are also to forfeit their home in Northern Ireland and a luxury Spanish villa, a fleet of high-performance cars, a boat and personalised number plates.

The couple, of Woodlands Manor, Portadown, signed a High Court consent order to settle a three-year case brought under the Proceeds of Crime Act.

SOCA's predecessors in the Assets Recovery Agency (ARA) had claimed that McKinney, who runs MMK International Ltd, had accumulated wealth through unlawful conduct.

But ahead of a trial set to last for six weeks, Mr Justice Morgan was told yesterday that a deal had been reached.

Under the terms of the settlement property, bank accounts and vehicles are to be recovered. These include: the Woodlands Manor home and another in Malaga; an Ulster Bank business account containing £2,148,000; a caravan currently berthed in Kilkeel; property at Carrickblacker Road, Portadown; the leasehold on business units in Portadown; vehicles including a Mercedes ML 270, Hummer H2, Bentley Continental, Jaguar X Type, Range Rover, BMW Mini Cooper, Nissan Primera cars, a Peugeot Looxor moped, an Augusta Spa helicopter and a Bayliner Capri boat; more than £11,000 in seized cash and rental income from the sub-lease of MMK business units.

With the order coming into force on Monday morning, all property will remain frozen until then.

Following the settlement SOCA Deputy Director of Proceeds of Crime David Armond said the agency was determined to ensure crime doesn't pay.

He added: “Together with our partners we are using civil recovery powers and closing the net on all those who attempt to profit from their criminal activities.”

But Mr McKinney declared his intention to continue expanding his business and provide jobs. He said: “I am pleased that these civil proceedings have been brought to a satisfactory conclusion with my reputation and the future of the company secured.

“MMK International employs 50 people in the Portadown area. The settlement of the case permits the company to develop its business unhindered, to forge ahead into new areas of business, to achieve continued growth and, above all, to secure much-needed employment in the Portadown area.”

His solicitor, Rory McShane, said the case underlined concerns expressed by the Westminster Public Accounts Committee about this type of legal proceedings.

“The case is a hangover from the now abolished Assets Recovery Agency,” Mr McShane said.

“It will be recalled that the Assets Recovery Agency cost £65 million to run and recovered only £23 million. In this case millions of pounds have been expended by government on lawyers fees, accountancy fees and other expert fees,” Mr McShane added.

“The case clearly demonstrates that a different mechanism ought to be adopted in cases of this type in the future.”

Former Portadown Football Club director McKinney publically vowed to clear his name when ARA went to the High Court in Belfast in February 2006 to freeze £3.6m of assets.

It alleged in court that McKinney had used his haulage company to smuggle drugs, fuel and cigarettes.

The ARA also alleged McKinney — who has convictions for possessing and recording information likely to be of use to terrorists — was linked to loyalist paramilitaries.