hedge fund | 

Farm site owned by Celtic Tiger socialite Marcus Sweeney’s firm is sold by CAB

His EWM Property Holdings firm bought the ten-acre site for €105,000

Today at 07:00

The farm field bought by Celtic Tiger socialite Marcus Sweeney’s wealth management company to launder crime cash has been sold at auction by the Criminal Assets Bureau.

His EWM Property Holdings firm bought the ten-acre site for €105,000 which the High Court has since declared the proceeds of crime.

The property at Waynestown near Dunboyne in Co Meath was due for auction earlier this month and had a guide price of €150,000. It is now marked ‘sale agreed’ according to daft.ie, where it had been listed for sale.

Judge Alex Owens previously described Sweeney as being “up to his oxters” in organised crime after hearing evidence of his links to a leading figure in the crime gang known as The Family.

Sweeney’s EWM Property Holdings had agreed to hand over the land in Co Meath on April 4 and was warned it could be found in contempt of court if the transfer did not happen on time.

The firm involved in “highly dubious” investment schemes, including the land purchase at Waynestown.

Sweeney is the director and founder of EWM in which a gang boss, the High Court heard, was one of the chief investors in the firm.

Once known for his profile on the Dublin social scene, Sweeney had also been seen by gardaí in the company of two men at a meeting in Dublin who were later arrested in possession of nearly €1m worth of heroin.

He is also alleged to have associated with other Irish criminals suspected of drug dealing and money laundering and with criminals links to the UK and Turkey.

The CAB case centred on the site at Waynestown which was bought with the proceeds of crime. Half the cash came from another investment firm, which in turn came from unknown sources, and a third from an innocent investor.

Finding in favour of CAB in January, Judge Owens said it was a “very compelling case” in which Sweeney was “up to his oxters” with organised crime.

Sweeney had been served a Garda GIM form, given to people who gardaí believe have an immediate threat to their life, according to evidence in the CAB case.

This was a direct result of his involvement with criminals and money laundering and included serious threats, assault and intimidation.

Gardaí believe Sweeney and another business associate held a meeting with some of the investors in the firm in early 2020 over the debts. This, according to gardaí in the CAB case, was done to “reduce the threats to their person and property.”