The Criminal Assets Bureau (CAB) handed over almost €4m to the State in 2014 arising from investigations into criminal gangs.

The annual report for the bureau shows assets worth more than €6.5m were frozen during the year.

While the value of assets seized was reduced by 26 in comparison to 2013, the value of assets frozen increased in the period by approximately 140%.

The bureau obtained High Court orders freezing half a dozen properties worth almost €450,000, and jewellery to the value of €17,000 in 2014.

In the same year, 76 cars and cash of more than €6m was frozen by the CAB in the fight against organised crime, dissident groups and drugs gangs.

In 2014, the bureau obtained receivership orders for 39 assets.

One of the watches seized by the CAB | Image: CAB

One of the CARS seized by the CAB | Image: CAB

The CAB says in every case, the receiver appointed by the court was the Bureau Legal Officer.

These cases involved properties, cash, money in bank accounts, motor vehicles and a watch.

"In some receivership cases, the High Court made orders for possession and sale by the receiver", CAB says.

During the year, 61 search warrants were issued and 185 orders to make material available were signed off on.

The CAB also says that the Exchequer was saved €190,190 as result of investigations by Social Welfare Bureau Officers in 2014.

It says a number of people had their payments either terminated or reduced.