A Limerick man has agreed to hand over his house to the Criminal Assets Bureau after he accepted in court that the property was the proceeds of crime.
Brian Collopy (32), Fedamore, Co Limerick, agreed in the High Court on Tuesday that the house was the proceeds of crime, and arrangements are in place for the €300,000 property to be given to the State.
Last May the bureau served Collopy with a €475,000 bill. It included €250,000 owed for unpaid tax on the proceeds of crime between 1996 and 2002, and the rest, €225,000, was made up of interest and penalties.
Sources indicated that Collopy has not yet paid that bill and is claiming that he is unable to do so.
In its action against Collopy, CAB made its case to the High Court by arguing it believed he was a drug-dealer. The bureau is applying the proceeds-of-crime legislation in respect of the house.
Collopy had strong links with a drug-dealer, Kieran Keane, who was found shot dead in Drombana, Bushy Island, Co Limerick, on January 29th, 2003.
He is also a horse dealer and is the former owner of at least one business.
In September 2003 the Food Safety Authority served a closure order on Collopy in respect of a food stall he operated. Closure orders are served when it is deemed that there is, or is likely to be, a grave and immediate danger to public health.
He bought the house at Fedamore for about £60,000 in the 1990s. It is understood it was a cash transaction, and there is no mortgage outstanding. A receiver has been appointed on behalf of CAB, but the property will not be confiscated immediately.
Instead, Collopy's wife will be allowed to remain for six months to give her time to make alternative arrangements and to move out of the house. CAB will take ownership of the house next June, when it will be sold at auction. The proceeds will be given to the State.
Collopy remains a close associate of Christy Keane, the brother of Kieran Keane, who is serving a 10-year prison sentence for drugs offences. Collopy has no convictions for serious crime but has been known to gardaí in Limerick city for many years.
Last April Collopy walked into Mayorstone Garda station in Limerick city, fearing his life was at risk. He said he was being followed by armed men.
Gardaí arrested two suspected members of a rival Limerick gang and questioned them about Collopy's claims.
The seizure of his house comes after a CAB investigation, lasting nearly two years, into his activities and those of other criminals in Limerick.
Meanwhile, CAB is set to go to the Supreme Court next month to continue its efforts to confiscate assets owned by the convicted drug-dealer, John Gilligan.
Gilligan, who is serving 20 years for drug-smuggling and dealing, is seeking an order quashing a ruling made some years ago under Section 3 of the Proceeds of Crime Act, 1986, for the seizure of his assets.
