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Money probe Man accused of possessing proceeds of crime had €188k in gun safe, court hears

The cash was wrapped in bundles and gardaí believed it to be the proceeds of criminal conduct.

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Four separate locations were raided with cash valued at over €188,000 recovered during the search of one property.

Four separate locations were raided with cash valued at over €188,000 recovered during the search of one property.

Four separate locations were raided with cash valued at over €188,000 recovered during the search of one property.

A father-of-two had €188,000 in a gun safe in his home when it was searched by gardaí investigating supports for the Kinahan crime gang, a court heard.

Richard Kearney (38) opened the safe containing his legally held firearm and two bags of money when detectives came to his home.

Judge Bryan Smyth granted him bail despite garda objections and adjourned the case at Dublin District Court.

Mr Kearney, with an address at Fitzgibbon Court, Dublin 1 is charged with possession of the proceeds of criminal conduct. The offence, under the Money Laundering and Terrorist Financing Act, is alleged to have happened at his home address on May 11.

Objecting to bail, Detective Garda Mark O’Neill cited the nature and seriousness of the allegations. He said as part of an ongoing investigation into people allegedly facilitating the Kinahan organised crime group, officers from the Garda National Drugs and Organised Crime Bureau carried out a number of searches.

On May 11, gardaí went to the accused’s home and observed a firearm safe, which he was asked to open.

Mr Kearney got keys from his bedroom and opened the safe which contained two bags containing a total of €188,295 in cash, along with the accused’s legally held firearm.

The cash was wrapped in bundles and gardaí believed it to be the proceeds of criminal conduct. The accused was arrested on suspicion of facilitating or enhancing the abilities of an organised crime group and was detained under Section 50 of the Offences Against the State Act.

Mr Kearney was interviewed three times in custody and during each he availed of his right to silence, Det Gda O’Neill said.

A comprehensive investigation file would be prepared for the DPP. The accused had not offered any explanation in relation to the money, the garda said.

He strongly believed Mr Kearney would commit offences to recoup the lost money if released on bail. He said Mr Kearney was “caught red-handed.”

Applying for bail, defence solicitor Claire Finnegan said the accused could be waiting until 2023 for a trial.

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Mr Kearney was sole carer for a son and had been at his current address for five years, she said.

Judge Smyth granted bail in the accused’s own bond of €1,000, with no cash. However, he also required an independent surety of €10,000, half in cash. Under conditions, Mr Kearney must sign on three times weekly at Mountjoy garda station, surrender his passport, notify gardaí of any change of address and provide a contact phone number.

He was remanded in custody with consent to bail to Cloverhill District Court on May 18.

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