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Wednesday, 3rd March 2021

Man arrested in Louth in relation to €20m property fraud

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A man has been arrested in County Louth today in relation to an ongoing investigation into property registration fraud worth up to €20 million.

The man, aged 37, was arrested in the Dundalk area, today 3rd March 2021, by Gardaí attached to the Garda National Economic Crime Bureau (GNECB) and Dundalk and is currently being detained under Section 50 of the Criminal Justice Act, 2007 at Dundalk Garda station.

He can be detained for up to 7 days.

This investigation involves a fraud of up to €20million. It involves the use of fraudulent documentation to remove mortgage charges held by Financial Institutions on properties, thus allowing the sale of those properties without repaying the mortgages.

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In this case, mortgage charges were removed from 12 properties, with 6 of these properties being sold.

This is the 9th arrest as part of this investigation.

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