GARDAI have launched a major investigation into allegations of investment fraud of a “commercial entity”.
The Garda National Economic Crime Bureau (GNECB) are looking into allegations of “deception and investment fraud concerning a commercial entity in the Southern Region.”
Gardaí and members of the GNECB and the Garda National Cyber Crime Bureau (GNCCB) conducted a search of three locations in Cork on Monday, September 30.
A garda spokesperson said: “Gardaí attached to the Garda National Economic Crime Bureau (GNECB) have launched an investigation into allegations of deception and investment fraud concerning a commercial entity in the Southern Region.
“On Monday morning, 30th September 2024, Gardaí from GNECB, supported by local Garda units and the Garda National Cyber Crime Bureau (GNCCB), conducted a search operation under warrant at three locations in Cork city and county.”
The search saw officers seize computers, phones and files.
Along with this, 12 bank accounts were frozen under money laundering legislation.
Gardaí have confirmed that no arrests have been made and investigations into the incident are ongoing.
They added: “During the course of the search operation, computers, phones and files were seized. Twelve bank accounts were frozen as per money laundering legislation.
“No arrests have been made at this time. Investigations are ongoing.”
This comes after a separate incident saw a man appearing in court charged over a €1.4 million seizure of gold bullion.
The major Garda haul also saw the seizure of cocaine, ecstasy and cash during the seizure.
Officers seized 18 kilos of gold, €460,000 in cash and €210,000 worth of cocaine and ecstasy during the operation on Friday and Saturday.
A man, 55, was arrested on Friday and was brought before the Blanchardstown District Court on Monday.
Commenting on the seizure, Chief Superintendent Garrett Billings of DMR Regional office said: “This seizure is another example of the fine work members of An Garda Síochána do on a daily basis to keep our communities safe.
“This operation, conducted by the Dublin Crime Response Team, is intended to target, disrupt and bring to justice those who cause significant harm in society.”