Irish police seize nearly 200 vehicles as part of massive fraud scam
''Greed, in the end, fails even the greedy''
As reported by Raidió Teilifís Éireann, Ireland's National Public Service Multi-Media Organisation, a group of highly elusive criminals have had their stock of between 170 and 200 cars, worth an estimated £4million, seized by Ireland's Criminal Assets Bureau, in what's being called 'Operation Bagana'.
In recent years, the UK and Ireland have tightened their hold on money laundering operations within their respective countries, with everything from drugs, to credit card scams, and more being held under the spotlight with greater care and intensity. As a result of this reaction, you car-lovers on DriveTribe will be happy to know that a wide range of stolen cars are also being seized on the daily.
Operation Bagana is the consequence of a collective effort between the Economic Crime Bureau of the UK's West Midlands Police Unit, and Ireland's Criminal Assets Bureau - and its proving to be an incredibly worthwhile partnership in their bid the recover looted items as part of their cyber-fraud and money laundering investigation.
Whilst officials remained tight-lipped when quizzed about the situation and their heroic rescue efforts, they did say that the inspection paid close attention to an ''international organized crime group who are suspected of laundering proceeds of mandate fraud committed in the UK via a used car outlet in Co. Tipperary.''
In regards to some of the motors that have been seized, we can see an abundance of Land Rover's, BMW's (even an M3/4), Hyundai's, Volkswagen's, Lexus' and even a few Audi's. The total stock count from the Criminal Assets Bureau's recovery-list amounts to about 80 cars. They also managed to seize £19,143 in cash, whilst freezing more than £180,000 in liquidated assets and financial accounts linked to the theft-ring.
Not that it's a competition or anything, but their colleagues over at West Midlands Police managed to recover a further 90 vehicles, whilst arresting four people linked to the crimes. The sum of the West Midlands Police's recovery is expected to be significantly higher than that of the 1.8million pounds worth of steel seized by the Criminal Assests Bureau - meaning that the total theft sums we're talking about here will amount to, at the very least, £4million.
RTE has also said that, as part of their interview gatherings, it's now known that the theft ring managed to whisk away money from legitimate UK businesses via ''CEO impersonation and invoice redirect fraud.'' They then used their stolen cars to launder their further illegitimate gains, by transporting the cars to Ireland, and then selling them through car dealerships that imitated a legal business. I guess the greedy just don't know when to stop, do they?