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18/01/2007
Assets worth £12 million seized in Manchester
The Assets Recovery Agency has seized approximately £12 million worth of property in Manchester following an investigation into alleged IRA money laundering.
The ARA was granted a High Court Order to freeze approximately 77 properties belonging to Dermot Craven and Brian Pepper and believed to have been purchased through the proceeds of crime.
The Agency today alleged that Mr Craven and Mr Pepper established the property portfolio through the proceeds of unlawful conduct, including money laundering, tax evasion, false accounting, mortgage fraud and benefit fraud.
In 2005, the Agency carried out a number of raids on the men's homes and businesses, however they denied having any involvement with the IRA.
Today's seizure is understood to be related to a similar incident last November and December when the ARA seized 15 properties in Manchester worth around £1.2 million.
(EF)
The ARA was granted a High Court Order to freeze approximately 77 properties belonging to Dermot Craven and Brian Pepper and believed to have been purchased through the proceeds of crime.
The Agency today alleged that Mr Craven and Mr Pepper established the property portfolio through the proceeds of unlawful conduct, including money laundering, tax evasion, false accounting, mortgage fraud and benefit fraud.
In 2005, the Agency carried out a number of raids on the men's homes and businesses, however they denied having any involvement with the IRA.
Today's seizure is understood to be related to a similar incident last November and December when the ARA seized 15 properties in Manchester worth around £1.2 million.
(EF)
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