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Auction of largest seizure of gold in history of State

The online auction is open to the public and closes at 1pm on Monday. Pic: Wilson's Auctions
The online auction is open to the public and closes at 1pm on Monday. Pic: Wilson's Auctions

Gardaí are auctioning the final part of a €2m gold bullion seizure which was being used to launder money for criminals.

A total of 18.8kg of gold, the largest such seizure in the history of the State according to gardaí, is being sold, with €1.4m worth already sold.

The Dublin Crime Response Team also seized over 2kg of cocaine and ecstasy and more that €400,000 in cash.

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.

Officers from the Dublin Crime Response Team raided the home of 39-year-old Svethana Bahtijeva in Earlsfort Court in Lucan on 26 September 2024 and found five keys for three safety boxes and two safes.

When gardaí searched the safety deposit boxes, they found over 18kg of gold bullion, valued at €1.3 million, over €399,000 in cash, debit cards, authenticity documents for the gold and various false identification documents belonging to a man.

Bahtijeva and her 59-year-old mother, Jelene Idele, were the key holders and the only ones with access to the boxes.

Bahtijeva's home was searched again five days later on 29 September 2024 and over €58,000 in cash was found in a lunch box hidden behind the stairs, along with further documents.

Her mother home in Glenbourne Walk, Leopardstown was also searched on the same day and three safes were found with 2.6kg of cocaine, valued at €187,000 and €26,000 of MDMA open along with other documents.

Both women claimed they had been under the control and in fear of the man allegedly involved and the court accepted that the main culprit "was not before the court" and may never be before the court as he has left for Kazakhstan.

Judge Martin Nolan jailed both women last December, Svethana for five years and her mother Jelene for four years.

The various quantities of gold in coins and bars have been auctioned off over the last six weeks.

Bidding on the final lot opened today online and the auction closes next Monday at 1pm.

Gardaí expect to hand over a total of €2m to the Exchequer.

Detective Inspector Ken Holohan from the Dublin Crime Response Team described the sale of the gold as "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," he said.

The auction is open to the public.

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