Three men were arrested in Co Tyrone and Co Armagh after HMRC searched eight houses in Crossmaglen, Bessbrook and Dungannon.
Cash worth £8,000 and €30,000 was recovered by revenue and customs officers and the PSNI during the raids, although all three men have since been released on bail.
The raids took place on 28 April, where the cash was seized along with mobile phones, paperwork and a lorry cab.
Read more: Co Antrim 'miracle' conjoined twins are one in 2.5 million
The three men, aged 33, 32 and 39 were arrested on suspicion of fraud and money laundering.
Five properties were searched in Crossmaglen, where the 33-year-old was arrested and approximately €30,000 seized.
Two properties were searched in Dungannon , where the 32-year-old was arrested and around £5,000 was seized.
Another property in Bessbrook was also searched on the same day, with £3,000 seized by officers and the 29-year-old arrested.
A spokesperson for HMRC said investigations were ongoing.
“Three men have been arrested in counties Armagh and Tyrone following a HM Revenue & Customs (HMRC) operation,” the spokesperson said.
“HMRC, supported by the PSNI, attended eight residential properties in Crossmaglen, Bessbrook and Dungannon on 28 April 2022.
“More than £8,000 and €30,000 were seized during searches along with mobile phones, paperwork and a HGV lorry cab.
“The three men, aged 33, 32 and 29 were arrested on suspicion of excise fraud and money laundering.
“All three were interviewed under caution and have been released on bail.
“Investigations are ongoing.”
Read more: Family of schoolgirl who died aged 11 urges others to seek help
Read more: Omagh theatre school brings curtain down on 30 years on Bridge Street
To get the latest breaking news straight to your inbox, sign up to our free newsletter.
