Shipping company acquires MV Matthew for $1
A seized drug-smuggling cargo ship which cost the State millions to store was transferred to a company for a “nominal” fee of $1, Revenue has said.
The MV Matthew was detained in September 2023 as part of an operation which led to the largest seizure of cocaine in Irish history – 2.2 tonnes or €157 million
Revenue detained the vessel and seized the cocaine while An Garda Síochána arrested six of the crew and two men who crewed the “daughter vessel”, the Castlemore, which sank off the coast of Wexford.
They were found guilty at the Central Criminal Court and sentenced on July 4 2025 to terms of imprisonment ranging from 13-and-a-half years to 20 years.
The Army Ranger Wing was also involved in the operation.
Revenue said detaining the vessel was “without precedent” in Ireland, adding that it had “significantly disrupted the activities of organised crime gangs”.
However, disposing of the ship could not...
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