The High Court has found that property, cars, jewellery and cash seized from a Dublin organised crime gang linked to the Kinahan cartel are the proceeds of crime.

The assets were seized by the Criminal Assets Bureau from the gang leader Liam Byrne, whose brother David was shot dead at the Regency Hotel in Dublin two years ago.

His close associate Sean McGovern, who was also shot that day, and nine other family members and associates also had assets seized.

The court also found that the "Byrne Organised Crime Group" established a number of businesses as a cover to launder money from criminal activity.

The gang has been a target of CAB for some time.

It confiscated 31 luxury high-end cars, eight items of expensive jewellery, four items of cash and two houses in Dublin, which the High Court has now found to be the proceeds of crime.

The value of the goods seized was €1.4m.

CAB described Liam Byrne as a career criminal heavily involved in drug trafficking and violent crime with connections to international cartels in the UK, Spain and the Netherlands - and closely aligned to the Kinahan organised crime gang.

He set up a car business 'LS Active Car Sales' in Dublin which the court found did not operate as a normal car business because many of its cars were not for sale but driven exclusively by gang members.

The premises at Bluebell Business Park was also used for meetings for members of the Byrne organised crime gang.

The High Court accepted evidence that Byrne and McGovern were involved in laundering criminal assets, transferring wealth between gang members, providing gangsters with top of the range cars and hiding the beneficial ownership of the cars.

Ms Justice Carmel Stewart described the business as "a slush fund" for the gang and had no hesitation finding on the balance of probabilities that all of the property was the proceeds of crime.

The Minister for Justice has said the seizure shows that there is "no hiding place" for the proceeds of crime.

Charlie Flanagan praised the courage of CAB officers involved in the investigation.

Meanwhile, Minister for Finance Paschal Donohoe has said he is not at all surprised by the complexity or the scale of money that was involved in the case.

Speaking to RTÉ News, Mr Donohoe said "yesterday shows the determination by An Garda Síochána to ensure that the law is upheld and to ensure that anyone who breaks the law is pursued with all of the powers that are available to the gardaí and to the State".

He said it is to the huge credit to those involved in the investigation that "that they managed to secure such an incredible result yesterday".

The Minister said there is a very advanced and sophisticated money laundering code in place that is successful in deterring or stopping the vast majority of cases of money laundering.

However he said "unfortunately it is always the case that there are some who are very determined and very sophisticated and will find ways of breaking the law and getting around it".

Mr Donohoe said that is why this outcome is very important.