Tony Gregory
Question:183 Mr. Gregory asked the Minister for Justice the number of properties seized by the Criminal Assets Bureau; the number sold to date; and the amount of money which accured to the Exchequer in this regard. [11934/97]
Written Answers - Criminal Assets Bureau Seizures.
I am informed by the Garda authorities that the following property has been the subject of various orders under the Proceeds of Crime Act, 1996: £289,000 in cash; one house set in flats — sale closed; one apartment — for which contracts for sale have been exchanged; six houses — contracts for sale have been issued in respect of one house — one equestrian centre; three motor vehicles and one motor vessel — sale closed.
Under the Proceeds of Crime Act, 1996 all moneys, including those resulting from the sale of assets are frozen for up to seven years during which time any person may claim legitimate ownership. No money has yet accured to the Exchequer under this Act as a disposal order transferring funds to the Exchequer cannot be made until the statutory period of seven years has elapsed from the date of the original order.