Cash and high value goods including designer handbags and watches were seized by the Criminal Assets Bureau (CAB) following search operations in Cork, Dublin, Meath and Louth today.

High value property assets linked to a number of distinct organised crime groups operating nationally and internationally were searched as part of an ongoing Bureau investigation into organised crime groups laundering the proceeds of crime through property investments.

The search operation, which was conducted by CAB officers supported by the Emergency Response Unit, the Garda National Drugs and Organised Crime Bureau, DMR Regional resources and the Customs Dog Unit, involved in excess of 100 Bureau and Garda personnel at 15 different locations throughout the country.

During the course of the search operation, Bureau officers seized over €20,000 and £14,600 in cash in addition to watches including two Cartier watches, three Rolex watches and one Hublot watch and other designer items including a Gucci handbag, a Prada handbag, a Louis Vuitton handbag and four Chanel handbags.

In addition to this, documents, records and files were seized along with devices including mobile phones, laptops and hard drives.

A Garda spokesperson said that one male was arrested for an offence of money laundering and is currently detained under Section 4 of the Criminal Justice Act 1984 at a Garda Station in Dublin. 

"The proceeds of crime investigation remains ongoing," the spokesperson continued.