CAB Tastes Success in Seizing Bitcoin Assets of Drugs Dealer
Crypto Guide
Live News

Keeping up with all the cryptocurrency news and updates is not an easy task, but we are up to the challenge! This way we can help our readers to keep track of changes in these fast growing currencies. Just like our site, lambo2btc.com is willing to face this challenge and on their site, they compile the features, key elements, and recent news involving bitcoin casino sites and which are the best to try!

CAB Tastes Success in Seizing Bitcoin Assets of Drugs Dealer

February 19, 2020      Zain Raza

Criminal Assets Bureau (CAB) has seized 52m Euro worth Bitcoin from a drug dealer when he forfeited his cryptocurrency after the court found him guilty.

The court said that Clifton Collins from the town of Crumlin, in Dublin used to be involved in illegal activities of selling and supplying drugs. Mr Justice Alex Owens ruled that under the Proceeds of Crime legislation, he should forfeit his Bitcoin.

Clifton (49) didn’t even bother to contest the CAB’s application. Calling his assets into question stems from a Garda investigation which started all the way back in February 2017, when he was caught red-handed with cannabis in the vehicle.

Collin was charged with a number of offences under Drugs misuse Acts and appeared before Bray District Court. He jumped into the Bitcoin world at a young age, and with time Bitcoin grew and he benefited substantially. The CAB was successful in ordering the freezing of his bitcoin assets, in making sure his bitcoins aren’t removed from the wallet without the court’s approval.

CAB Attack Had Others on Its Hitlist Too 

The Collin’s case is not the only one, as there were five more applications the CAB brought yesterday before Judge Owens.

Ladbrokes betting account by Stephen McAuley of Hollystown, which held euro 21,490 in cash was taken over by CAB, on the pretexts similar to Collins, that he sold and supplied drugs too. Along with the money,  a Tag Heuer watch worth around euro 2,900 was secured by the CAB too. As he didn’t appeal against the application and gave his consent, the CAB didn’t have to wait for the usual seven years to transfer his assets to State coffers. 

James O’Neill from Dublin’s south inner city was another on CAB’s hitlist. It was alleged that he had ties with the drug gang Kinahan crime cartel. Around euro 21,000 in cash held in a credit union account along with watches with a total valuation around euro 40,000 were seized by CAB.

READ  Weiss Ratings: Bitcoin Correction The Best Buying Opportunity Since 2015
#Bitcoin News #CAB #Clifton Collins #Cryptocurrencies #Cryptocurrency News #Dublin #Kinahan #Stephen McAuley
Zain Raza
Zain Raza

Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.