Over €1 million worth of goods seized in Dublin raids

Gardaí say more than 40 high-end vehicles were recovered as part of the operation

Cars, cash and jewellery worth up to an estimated €1.2 million were seized as part of yesterday's raids across Dublin.

Gardaí say 46 high-end vehicles, as well as jewellery and electronic equipment, were recovered after 20 separate operations across the capital.

The searches were led by members of the Criminal Assets Bureau, the Garda National Drugs and Organised Crime Bureau as part of an investigation into organised crime. 

While journalist Conor Feehan acknowledges that the seizure is significant, he says that organised gangs will have no issue bouncing back from this seizure.

"These gangs have ways and means of diverting cash in different ways and coming back from this," he told Newstalk Breakfast. "But this is something that will temporarily stop them in their tracks."

The raids on 20 premises began at around 10am on foot of search warrants.

Gardaí say the operation is a result of an ongoing multi-agency investigation involving the CAB and others - including the Special Crime Task Force.

It is investigating serious organised criminal activity in Dublin, and suspected money laundering operations. The investigations are ongoing.