Designer watches worth almost €80k and a property in Cabra among assets seized by CAB

The Criminal Asset Bureau have generated almost €80,000 for the State from the sale of assets seized from an individual in Dublin.

Following a years long investigation, CAB seized the assets of a Mr Christopher Waldron which were determined to have come from the illegal sale and supply of drugs in the wider Cabra and Finglas suburbs of Dublin.

The bureau have also seized a property this Thursday, March 7, in Cabra belonging to Mr Waldron.

High Court orders were granted to CAB to seize the property on Killala Road, Cabra as well as seven designer watches, €4,605 and £445 both in cash.

The watches were sold at auction in December 2023 and amounted to €72,900 - more than €77,000 has already been returned to the State. They included a number of luxury designer brands, such as:

- Gentleman’s stainless steel Breitling Super Avenger Automatic Chronograph Watch sold for €3,000

- Ladies 18k Rolex Datejust watch sold for €10,900

- Gentleman’s stainless steel Cartier Santos Automatic watch sold for €1,700.

- Gentleman’s Hublot Titanium Spirit of Bing Bang Moonphase Automatic Watch sold for €8,300

- Ladies stainless steel and 18ct yellow gold Rolex Datejust automatic watch sold for €4,000

- Gentleman’s 18ct yellow gold Rolex Oyster Perpetual Day-Day automatic watch sold for €30,100.

- Gentleman’s stainless steel and 18ct yellow gold Rolex Oyster Perpetual Sky-Dweller automatic watch sold for €14,900.

With regard to 61 Killala Road, Cabra, Dublin 7, a stay was put on the Order until 11am this Thursday, March 7, when the Court appointed Receiver, Bureau Legal Officer, Kevin McMeel took possession of and to sell the said property by private treaty or public auction and lodge the proceeds of sale into a bank account for the benefit of the Central Fund.

The property  had been acquired by Mr Waldron in 2013. As part of the investigation, a quantity surveyor was appointed to carry out an inspection of the home which had been extensively renovated. The estimated cost of these works (excluding fees) was in the region of €430,000.

The funds used to build an extension and renovate the property were also determined to have derived from criminal activity.

The property will be sold by private treaty and/or public auction in due course, the proceeds of which will also be lodged to the State’s Central Fund.