Pubdate: Wed, 20 October 1999 Source: Irish Independent (Ireland) Copyright: Independent Newspapers (Ireland) Ltd Contact: http://www.independent.ie/ Author: Tom Brady, Security Editor POUNDS 1M CASH, CHEQUES SEIZED IN BORDER SWOOPS Gardai and RUC detectives seized up to pounds 1m in cash, cheques and drafts yesterday in a cross-Border operation yesterday aimed at smashing a suspected major money laundering operation by drug traffickers. Last night detectives began checking out a vast network of accounts used by two bureaux de change in which it is reckoned about pounds 70m was channelled over the past three years. Almost 250 police on both sides of the Border searched more than 20 houses, solicitors' and accountants' offices, financial houses and two boats in a culmination of a three year investigation into a money trail created by drug barons. Four men and three women were being quizzed by detectives in Navan, Kells and Trim garda stations last night after being arrested in swoops in north county Louth. An eighth suspect was detained by the RUC in Crossmaglen in south Armagh. Most of those arrested here are members of one family. They are being held under the drug trafficking legislation which means they can be held without charge for a maximum of seven days. A team of 70 detectives from the Criminal Assets Bureau, Garda Bureau of Fraud Investigation and Garda National Drugs Unit were assembled for a briefing in Dublin on Monday night and were backed up by 30 local gardai from the Louth-Meath division in the early morning raids yesterday as Operation Factual swung into action. The gardai shut down a bureau de change which was allegedly operating without a licence close to the Border and seized cash, documentation and computers from the premises after interviewing the staff. Another bureau de change was raided in Newry by the RUC as part of their Operation Beaumont and houses were also raided in the North. Gardai also searched the offices of three accountancy firms and one solicitor's premises in Dundalk and two solicitors' offices in Dublin and took away files belonging to certain clients for detailed examination. Senior officers pointed out last night that a significant proportion of the money that passed through the bureaux de change was legitimate but they suspected a large amount was the proceeds of crime and, particularly profits from drug trafficking. The joint operation by the CAB and the Fraud Bureau, led by Chief Supt Fachtna Murphy and Chief Supt Felix McKenna, stemmed from an initial investigation into the assets of major drug trafficker Paddy Farrell whose personal fortune from his crimes was estimated to be between pounds 25m and pounds 40m. INVESTIGATION Farrell was shot dead by his girlfriend, Lorraine, who then shot herself, in a bizarre incident in Drogheda in September 1997 and this led to the investigation being increased as other drug traffickers sought to take over Farrell's border empire. Gardai and RUC chiefs are now satisfied a number of major traffickers used the bureaux to launder their money including one Mayo man who was jailed earlier this year and several other Border based operators, possibly including dealers Brendan "Speedy" Fegan and Paul "Bull" Downey, both shot dead by the Provisional IRA earlier this year. Some of the money suspected of being laundered was profits from international trade in cigarette smuggling which was also linked to Border criminals. - --- MAP posted-by: Jo-D