Gardaí investigating the seizure of a container of 116 pedal cycles on Thursday, 26th December, 2019, at allotments in Newcastle, County Dublin, have arrested a man following a related search operation in County Cavan on Friday, 28th August, 2020.
At approximately 6:30am, Gardaí attached to the Street Crime Unit and the District Detective Unit at Pearse Street conducted a search of a residence in Drumgola Wood, Cavan Town, County Cavan.
During the course of this search, a large amount of financial documentation was recovered in addition to €7,000 in cash and memory sticks containing photographs of suspected stolen property, including bicycles.
Following further enquiries into the financial documentation seized, a total of €122,500 was frozen in various bank accounts and a further €6,000 in cash was located in a follow up search of the residence.
A man in his 40s was arrested at the scene and he is currently detained at Pearse Street Garda Station under Section 4 of the Criminal Justice Act, 1984.
Investigations are ongoing.
