Cork man had €672k in cash in boot of car when stopped by gardaí, court hears 

A Cobh man under investigation for money-laundering, drug-dealing and possession of ammunition was stopped driving in Dublin when he was on bail and gardaí found €672,000 in cash wrapped in vacuum packs and duct-tape in the boot of his car.

Gerard Hayes (39) with an address at College Lawn, College Manor, Cobh, County Cork, told the guards as soon as he was stopped on Mespil Road in Dublin that his life savings were in the boot of the car.

Detective Sergeant Eugene McCarthy said Gerard Hayes told them there was €620,000 in the boot of the car. In fact, when gardaí counted it there was €52,000 more than that.

“He insisted it was all from cash jobs and ‘foxers’ he had done over the years and denied any involvement in drugs… The way the money was wrapped and marked bears all the hallmarks of drug-dealing,” Det Sgt McCarthy said at Cork Circuit Criminal Court.

This arrest by Donnybrook gardaí in Dublin occurred on February 20, 2024, within days of being released on bail following his arrest for drug-dealing and money-laundering offences in East Cork.

And he was arrested for a third time – having secured High Court bail in relation to the Dublin charges – soon afterwards on March 20, 2024.

Driving

Detective Garda Dylan Murphy said that on this date he was seen driving a Toyota Avensis near Cobh Rugby Club and on being searched he had €1,400 worth of cocaine in deals concealed in a repurposed spray cannister.

On the first of the three incidents before the court today two hair-brushes were found in his possession. While there was a lot of hair tangled in the brushes it was discovered on closer inspection that the brushes had been modified to conceal close to €3,000 worth of cocaine in deals.

This first incident on February 2, 2024, was described by Detective Garda James McCarthy. Gerard Hayes had just driven his Audi A4 from a storage shed he was renting for €5,000 per year at Ballydaniel Ballymore in Cobh. €62,800 in cash was found at that premise in Ballymore. All of the cash was in €50 notes. It was found in an office under timber which was under tarpaulin.

An assortment of ammunition – for which he once had a licence, but did not have at the time – was found on that occasion. Some of the ammunition and related materials were found in the attic of the storage premises.

Also following searches carried out at that time at Ballynacorra River, East Ferry, Midleton, he admitted possession of proceeds of criminal conduct in the form of a boat, including contents and engine, with a value of €86,000.

Interviewed

Between the three incidents he was interviewed on 17 separate occasions and disclosed nothing of material assistance to the investigations during any of the them.

Ultimately, he made admissions to charges including the possession of cocaine for sale or supply and possession of large quantities of ammunition and silencers for firearms and the very large amount of cash and property – the proceeds of criminal conduct, which are money-laundering charges.

The most serious charge states that on February 20, 2024, at Mespil Road, Dublin 4 he had the proceeds of criminal conduct, namely cash to the value of €672,000.

As well as the Mespil Road money-laundering charge there was a charge on the same date related to his home in Cobh involving €10,050.

The total value of cash, vehicles, boat and other property that were deemed to be the proceeds of criminal conduct, totalled over €745,000. Judge Helen Boyle made a forfeiture order to the state of all of this. The Audi A4 being paid for in instalments by the accused was not forfeited to the state.

Jane Hyland senior counsel emphasised the value of the pleas of guilty made by the accused in these cases.

Judge Boyle said there was a lot of evidence to consider, and she remanded the accused in custody for sentencing until July 2.