Gerry Hutch’s Spanish property assets frozen as part of money-laundering investigation
Spanish authorities have frozen Gerry Hutch’s property assets in the country as part of an ongoing money-laundering investigation into the gangland figure, who plans to run in a byelection in Dublin next month.The revelation comes as Hutch refused to detail the extent of his property holdings in advance of the May 22nd Dublin Central byelection, which he said he plans to enter as an Independent candidate.. Hutch, who has made millions of euro over the years from property investments, told The Irish Times that he would only disclose his assets if elected, though he suggested he may be the wealthiest TD in the Dáil if he wins a seat.Since 2015, Hutch (63) has lived almost full time on the Spanish island of Lanzarote.READ MOREConvicted killer allowed on family holiday before sentencing over serious crashSuspended sentence for Sligo GAA player who defrauded HSE of €84,000Man (22) charged with two offences over fatal Edenderry house fireMan charged over car bomb attack outside Dunmurry police station in BelfastDocuments obtained by The Irish Times show Hutch owns three properties in Spain, including a three-bedroom villa in the town of Puerto Del Carmen in Lanzarote where he spends eight months of the year.The house, which sits on a 147sq m plot, also has access to a 424sq m “private garden”.He purchased the property with his wife with a mortgage of €264,000 in 2017 at the height of the feud between the Hutch organised crime group, a gang which the Special Criminal Court said he leads, and its rival, the Kinahan organised crime cartel.Gerry Hutch’s assets: On the trail of a Dublin gang leader turned politicianGerry Hutch in Lanzarote where he lives for most of the year. Photograph: Enda O'Dowd The Irish Times visited Lanzarote as part of an investigation into Hutch’s property interests. In an interview, the veteran criminal talks about his ‘exaggerated’ property holdings, hope of becoming the ‘richest’ TD and confidence of being exonerated in a Spanish criminal investigation. Read the full story here. Records show Hutch also owns a “penthouse” apartment in Fuengirola on mainland Spain, close to where he was detained by Spanish police in 2021 while being pursued for the 2016 Regency Hotel attack in north Dublin, in which Kinahan gang member David Byrne was killed by the Hutch group.Hiking, selfies and looking over his shoulder: Gerry Hutch’s life in LanzaroteThe records show that in October 2024, a court in Arrecife in Lanzarote imposed “preventive seizures” on all three properties. The orders are linked to a money-laundering investigation targeting Hutch and nine others, including his son Jason Jamie Murphy.[ Attempted murder of Gerry Hutch to be included in case against Daniel KinahanOpens in new window ]The orders prevent Hutch from selling the properties until the case against him concludes. If he is convicted, part or all of his holdings could be seized by the Spanish courts.It is not clear if the money-laundering investigation will proceed to a full trial. Hutch spent about two weeks in custody in Lanzarote before being released on bail and permitted to return to Ireland to contest the 2024 general election. Last February his €100,000 bail deposit was returned to him by the courts.In March, Spanish prosecutors returned to the court and asked the judge to revoke the order sending Hutch for trial. The court complied and ordered that the case be returned to the investigation stage to allow prosecutors to gather more evidence.The reversal in sending Hutch for trial and the return of the bail money are strong indicators the case against him will not proceed, according to Spanish sources. The investigation centres on allegations Hutch provided money-laundering services to a group of alleged scammers who defrauded UK residents by convincing them to invest portions of their pensions. He denies the allegations.Puerto Del Carmen in Lanzarote, where Gerry Hutch has been living for 12 years. Photograph: Enda O'Dowd In Ireland, gardaí have completed a separate investigation into allegations Hutch was in control of a criminal organisation. The Director of Public Prosecutions is considering whether he should face formal charges.In an interview with The Irish Times in Lanzarote, Hutch said he was unconcerned about the criminal investigations and expected to be exonerated.He said he was “not really” involved in the property business any more and that the extent of his holdings had been “exaggerated”. He declined to detail how much property he owns, but said he would disclose this information if elected to the Dáil.“I think that’s private. If I’m elected, it’s not private,” Hutch said.He speculated that he might be the richest TD in the Dáil, if elected – a title reputedly held by Kerry Independent Michael Healy-Rae, who owns rental housing and guest house properties worth an estimated €5.6 million.“I’d be happy to be wealthiest TD. I don’t know. I’d have to have a talk with the Healy-Raes,” he said. “We’ll open our piggy banks and see what’s in them.”
