Marcus Sweeney’s company to hand over field to Criminal Assets Bureau
Sweeney was previously described as “up to his oxters” in organised crime in a case brought by the Criminal Assets Bureau.
This is the muddy field bought by Celtic Tiger socialite Marcus Sweeney's wealth management company which was used to launder the cash from one of Ireland's biggest drug gangs.
The High Court heard how Sweeney’s EWM Property Holdings has agreed to hand over the land in Co Meath on April 4.
The hearing was told if the land is not handed over, the company is at risk of being found in contempt of court.
In January, Sweeney was described as “up to his oxters” in organised crime as a judge found in favour of the Criminal Assets Bureau.
The firm was involved in “highly dubious” investment schemes including the land purchase at Waynestown, near Dunboyne.
There was no sign of Marcus Sweeney at the High Court today where Judge Alex Owens noted the undertakings given by the respondent in the case.
He made no order as to legal costs and allowed liberty for the case to be re-entered if needs be.
Sweeney is the director and founder of EWM in which a gang boss, the High Court heard, was one of the chief investors in the firm.
Sweeney had also been seen by gardai in the company of two men at a meeting in Dublin who were later arrested in possession nearly €1 million worth of heroin.
He is also alleged to have associated with other Irish criminals suspected of drug dealing and money laundering and with international criminals with links to the UK and Turkey.
The CAB case centred on lands bought by EWM for €102,500 at Waynestown Co Meath which was bought with the proceeds of crime.
Half the cash came from another investment firm, which in turn came from unknown sources and another third from an innocent investor.
Finding in favour of the CAB in January, Judge Owens said it was a “very compelling case” in which Sweeney was “up to his oxters” with organised crime.
Sweeney had been served a Garda GIM form, given to people who gardai believe there is an immediate threat to their life, according to evidence in the CAB case.
This was a direct result of his involvement with criminals and money laundering and included serious threats, assault and intimidation.
Gardai believe Sweeney and another business associate held a meeting with some of the investors in the firm in early 2020 over the debts.
This, according to gardai in their CAB case, was done to “reduce the threats to their person and property.”
In 2018 the firm was served with an income tax demand in excess of €500,000.
Straight afterwards, Sweeney then met with Kuldip Singh from Birmingham and a Turkish national, both known to be in the drugs trade.
Both are ‘top tier’ members of one of Europe’s biggest Turkish criminal gangs suspected of being behind a haul of more than 670 kilos of heroin seized on the German/Polish border.
When gardai raided the B+B room where they were staying in Saggart, Co Dublin they found 14 half-kilo blocks of heroin with a street just shy of €1 million.
All three were arrested but Sweeney was later released without charge.
Singh would later be jailed for four years and the Turkish national for for nine years.
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