Gerard Hutch is to pay the Criminal Assets Bureau over two million pounds in outstanding tax.
It is understood that an agreement was reached after the Criminal Assets Bureau (CAB) went to court to seek a further one and a half million pounds on top of the two million Gerard Hutch, known as The Monk already, owes.
Properties owned by Gerard Hutch in north inner city Dublin will be sold to pay off part of his tax bill. CAB will also receive one million pounds from him.
Former chief of the Criminal Assets Bureau Fachtna Murphy and his successor Felix McKenna have pursued Gerard Hutch for the tax bill. Felix McKenna told the High Court that Gardaí suspect Gerard Hutch of carrying out armed robberies and hiding and disguising money in properties under his control.
Since 1996, CAB have taken three million pounds in criminal assets, but today’s agreement marks the largest single settlement from any individual.
An RTÉ News report broadcast on 30 March 2000. The reporter is Paul Reynolds.
