Updated 17:30

The Criminal Assets Bureau has confiscated 115 vehicles and thousands in cash as part of an operation targeting organised crime in Limerick.

Thousands of Euro, Sterling and a Rolex watch that gardaí believe represent the proceeds of crime were also seized in eight search operations in Limerick, Tipperary and Dublin.

Gardai said the searches were supported by the Emergency Response Unit (ERU) and a range of other divisions this morning.

The investigation centres on a gang involved in the sale and supply of controlled drugs in the Limerick City and County areas.

Gardaí said the gang are suspected of laundering the proceeds of their criminal activity through a car sales outlet in Limerick City.

Criminal Assets Bureau carries out searches in Limerick

Earlier, officers said searches had been carried out at two homes, two car sales outlets and four business premises.

A host of documentation, mobile phones and electronic storage devices were seized alongside the fleet of cars and €43,000 in cash.

£1,000 Sterling was also seized.

Cars seized by the Criminal Assets Bureau. Image: CAB

A bank account held by one car sales business was also frozen under terrorism and money laundering laws.

No arrests have been made.

However, gardaí said the operation is a “major upset to organised criminal activity in the Limerick city and county areas.”

Cars seized by the Criminal Assets Bureau. Image: CAB