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Auction of gold bullion seized by gardaí raises €1.8m

The online auction is open to the public and closes at 1pm on Monday. Pic: Wilson's Auctions
The four auctions, which were open to the public, yielded a total of €1,803,810 (Pic: Wilson's Auctions)

A series of online auctions of gold bullion seized by gardaí has raised over €1.8 million on behalf of the State.

A total of 18.8kg of gold, the largest such seizure in the history of the State according to gardaí, was auctioned off over the course of the last few months.

The gold was forfeited to the state as a result of a drug trafficking and money laundering investigations carried out by the Dublin Crime Response Team.

Two women, a mother and her daughter, who were caught as part of the garda operation are serving four and five years in prison, respectively. A man, originally from Kazakhstan who left the country after he was charged, is still being sought by gardaí.

The various quantities of gold were offered in a selection of coins and bars, and the auctions were facilitated by Wilsons Auctions.

The four auctions, which were open to the public, yielded a total of €1,803,810.

Detective Inspector Ken Holohan, based in the Dublin Metropolitan (DMR) said that recovering and returning the proceeds of crime "is a key part of disrupting organised criminal activity".

"This auction ensures that seized assets are processed transparently, with all funds ultimately going back to the State where they belong."