SIX cars, a Rolex watch and designer handbags have been seized in more than 20 raids in Cork and Tipperary this morning by the Criminal Assets Bureau.
The raids are part of an investigation centred on one person involved in the sale and supply of drugs in Cork city and county.
The man is linked to a number of businesses in west Cork, through which he is believed to be laundering the proceeds of his criminal conduct, namely the supply of controlled drugs through these businesses, according to gardaí.
€22,500 of cash has also been seized in this morning's raids.
The vehicles included a 191 Renault Kadjar, a 182 Kia Sportage, a 171 Range Rover and a 162 Hyundai Santa Fe.
Searches were conducted in 21 locations across Cork while one raid was carried out in Tipperary.
The CAB were backed up by the Garda Emergency Response Unit, the Southern Region Garda Armed Support Unit, the Garda Dog Unit, the Cork Divisional Search Team and local Detective and Uniform Gardai from Cork.
11 residential addresses were targeted, along with four business premises, a hotel room and six professional premises, linked to solicitors and accountants.
A garda spokesman said: “In addition to this, a small quantity of suspected cocaine and cannabis herb, Mobile phones, Financial records and Business records were also seized and funds were restrained in four different financial accounts.” He added: “Two men were arrested at the scene by local Gardaí. One man was arrested on foot of a Court bench warrant while another man was arrested for an offence under Section 15 of the Misuse of Drugs Act 1997 as amended. The offence had occurred on an earlier date.”