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06/10/2005
IRA linked to £30m property seizure
Around 250 properties worth an estimated £30 million have been seized by the Assets Recovery Agency (ARA) in Manchester.
Speculation is linking the seizure to the IRA following investigations into the business and financial affairs of Thomas "Slab" Murphy, an alleged leading member of the Provisional organisation. However, the ARA said the searches were an investigation against assets, not individuals or companies.
A statement by the ARA said: "The searches were carried out on domestic and business properties associated with two Manchester-based businessmen.
"The Agency has so far identified approximately 250 properties held by both persons and a number of property management companies. The equity in the properties appears to be in the region of £9 million."
The operation came about following a successful application to the High Court in London for search and seizure warrants and a disclosure order.
A spokesperson for the ARA said no further comment could be made on the case.
(MB/GB)
Speculation is linking the seizure to the IRA following investigations into the business and financial affairs of Thomas "Slab" Murphy, an alleged leading member of the Provisional organisation. However, the ARA said the searches were an investigation against assets, not individuals or companies.
A statement by the ARA said: "The searches were carried out on domestic and business properties associated with two Manchester-based businessmen.
"The Agency has so far identified approximately 250 properties held by both persons and a number of property management companies. The equity in the properties appears to be in the region of £9 million."
The operation came about following a successful application to the High Court in London for search and seizure warrants and a disclosure order.
A spokesperson for the ARA said no further comment could be made on the case.
(MB/GB)
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