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Four men arrested in 1.5m euro fraud probe

A total of eight searches were carried out in Dublin

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A total of eight searches were carried out in Dublin (PA)

A total of eight searches were carried out in Dublin (PA)

A total of eight searches were carried out in Dublin (PA)

Four men have been arrested after gardai uncovered 1.5 million euro laundered through various bank accounts.

Officers from the Garda National Economic Crime Bureau (GNECB) and gardai from the Department of Employment Affairs and Social Protection (DEASP) carried out a number of searches in different parts of Dublin on Wednesday morning.

Gardai discovered a number of bogus companies established by a criminal organisation and a large number of bank accounts set up in both false names and money mules.

Gardai found that about 1.5 million euro was laundered through these accounts.

This money is the proceeds of various cyber-enabled frauds such as “smishing” and “vishing”, organised prostitution and thefts.

Documentation relating to the companies and bank accounts along with identifications, cash and phones were seized and are being examined by gardai.

A total of eight searches were carried out and four men were arrested for criminal activity, money laundering and obstruction. The four men are Romanian nationals and aged in their late twenties and early thirties.

Two are being detained under the Criminal Justice Act at Clontarf and Ballymun garda stations, while another man is being detained at Raheny and the fourth man was arrested for obstruction and was taken to Swords garda station. Investigations are ongoing.

PA