'Bottler' Devoy's €100k stash is seized by CAB as thug flees to UK
Gardai have seized a notorious gangster's going-away cash after he was forced to flee the country in fear of his life.
Derek 'Bottler' Devoy (32) was in the process of moving more than €100,000 to a bank in the UK when the account was frozen by detectives in Dublin.
Security sources believe he intended using the secret stash to set himself up in a new base in England.
Devoy, from Ballymun, fled to Britain last month after a contract was placed on his head by the same gang suspected of murdering his older brother.
'Mad' Mickey Devoy (42) was wearing body armour when he was shot three times in the head before his body was dumped at the side of the road in Fox Hill Lane, Tallaght, in January 2014.
Described as a gun-for-hire, 'Mad' Mickey was targeted after being identified by associates as the hitman responsible for the attempted murder of drug boss Greg Lynch outside a north Dublin pub in October 2013.
Derek 'Bottler' Devoy
Lynch (28), a close associate of the Christy Kinahan crime syndicate, was shot twice in the face.
Although he suffered serious injuries, Lynch survived the attack and his gang ordered a revenge hit on Devoy.
Another associate of the murdered man, John O'Reagan, was also shot dead in Ballymun by the gang, who accused him of stealing the getaway car used in the Lynch attack.
Security sources have revealed that on his release from prison, 'Bottler' found himself targeted by the same gang.
Gardai warned him his life was in danger and extra armed patrols were sent to Ballymun to prevent an attack taking place in March.
'Mad' Mickey Devoy
Devoy had been keeping out of sight and was afraid Lynch's gang would get him.
"He was terrified and that was why he decided to do a runner," said a security source.
Supt Joe O'Connor ordered an investigation into the gangster's finances using money laundering legislation that led to the discovery of the account containing what sources have described as being "well in excess of €100,000".
Gardai decided to swoop when they learned that the money was about to be transferred out of the country.
"This was Devoy's going-away money and he needed it to set up a new base. It's a big blow to him," a security source said.
The going-away money was frozen under the Money Laundering and Terrorist Finances Act 2010 and can continue to be held by the State pending further investigations.
Anyone claiming the money must prove that it came from a legitimate source before it can be returned.
It is understood that gardai have uncovered highly irregular financial activity in a number of accounts that can be linked to the fleeing gangster.
As part of a follow-up investigation, officers backed up by the Criminal Assets Bureau carried out a number of searches across the capital.