12 arrests in total have been made in relation to the investigation.
A man has been arrested in connection with a €20 million property fraud scheme following an operation carried out by An Garda Síochána on Tuesday, 21 December.
Gardaí attached to the Garda National Economic Crime Bureau (GNECB) and Dundalk Garda Station arrested the man, who is aged in his 40s, in Donegal on Tuesday morning.
He is currently being detained under Section 50 of the Criminal Justice Act, 2007 at Milford Garda Station.
The man may be held for up to seven days.
The related investigation concerns a fraud of up to €20 million.
The scheme involves the use of fraudulent documentation designed to remove mortgage charges held by financial institutions on properties, thus allowing the sale of those properties without repaying the mortgages.
In this specific case, mortgage charges were removed from 12 properties, with six of those properties subsequently being sold.
Tuesday morning’s arrest marks the 12th arrest in relation to the overall investigation.
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