A company linked to Frank Murphy, brother of the alleged Provisional IRA leader Thomas "Slab" Murphy, bought six properties in Manchester last year.
Sailor Property (UK) Ltd was identified yesterday by Manchester businessman Dermot Craven as a company under investigation by the North's Assets Recovery Agency.
According to records in the register of British companies, the directors of Sailor Property (UK) are Frank Murphy and Colm Farrelly. Described in company filings as a manager, Mr Murphy lives in Crossmaglen, Co Armagh. Mr Farrelly, described in filings as a farmer, lives in Hackballscross, Co Louth.
Garda sources said last night that neither Frank Murphy nor Colm Farrelly is known for any paramilitary activity. The Irish Times was unable yesterday to contact these men.
Mr Craven said he was introduced to Frank Murphy by his business partner Brian Pepper, who is from Dundalk. Most of his dealings with Mr Murphy were carried out through Mr Pepper.
The official filings for Sailor Property (UK) show the firm took out mortgages with Royal Bank of Scotland to buy six properties in the Manchester area in 2004.
Sailor Property (UK) bought two apartments in Stretford and Chorlton on February 2nd and bought flats in the same property in Stretford on June 9th. It bought another property in Stretford on September 23rd and bought a property in Cheshire on October 7th.
While the value of the mortgages was not specified in these records, the company's abridged accounts to October 31st, 2004, show the company's fixed assets were valued at £634,008. The books say the company had £46,681 in the bank on that date.
Separate records show Mr Frank Murphy is a director of a Northern Ireland-registered company, Sailor Property (NI) Ltd. Its latest filed accounts, for the year to January 2003, indicate it did not trade in that period.
Neither Frank Murphy nor Colm Farrelly is listed in the Companies Office in Dublin as a director of any companies registered in the Republic.