Latest: Gardaí have said the man, aged in his 50s, who was arrested on Friday for suspected pension fraud of over €500,000 in Cork city has been released without charge.

“A file will be prepared for the Director of Public Prosecutions in relation to this matter,” Gardaí said in a statement this morning.

Yesterday: Gardaí have arrested a man in relation to suspected pension fraud amounting to in excess of €500,000 over a 30 year period.

The man, aged in his fifties, was arrested following a joint operation between the gardaí and the Department of Employment Affairs and Social Protection.

A search of the man's house later found almost €10,000 in cash.

“As part of a joint investigation between An Garda Síochána and the Department of Employment Affairs and Social Protection (DEASP), gardaí arrested a man, aged in his 50s, in Cork city this morning, October 9, 2020," Gardaísaid in a statement. 

“Gardaí and investigators from DEASP later carried out a search at a house in Co. Cork where they seized €9,800 in cash.

“The alleged pension fraud has been taking place since 1987 with over €500,000 being claimed.” 

The man is currently detained at the Bridewell Garda Station under Section 4 Criminal Justice Act, 1984.

Speaking at Anglesea Street Garda Station today, Detective Inspector Daniel Coholan said: “Gardaí and the Department of Employment Affairs and Social Protection have a long standing relationship which aims to target those who attempt to defraud the state.”