Assisted by local Detective Units along with the Garda Dog Unit, CAB conducted a number of searches this morning at three locations in Cork and one location in Kerry.
The massive seizure included a 161 registered Mercedes Benz car, a 182 registered Audi TT, a Rolex watch, an Omega watch, a Mont Blanc watch and €1,400 in cash.
The man in question was previously investigated by CAB in 2011 and subsequently convicted of money laundering following an investigation by local Gardaí.
CAB also seized a number of phones and electronic devices from the individual, along with records relating to cryptocurrency purchase.
In a statement issued on Facebook CAB said:
"This morning’s search operation is a significant development in an on-going Criminal Assets Bureau investigation.
"In addition to this morning’s search, CAB will consider using its Revenue tax powers in respect of any liability that may arise."