Ulster Terrorists to Invest in Bulgaria's Property Market - Report

Politics | August 29, 2006, Tuesday // 00:00| Views: | Comments: 0
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Alan McClean, the exiled godfather of the Ulster Defence Association (UDA) is believed to plan to launder cash he pocketed through the loyalist paramilitary organisation by investing in Bulgaria's property market, Belfast Telegraph reported.

MacClean has been seen sunning himself in the upmarket Bulgarian resort of Golden Sands, the report says.

"McClean stunned Ulster holidaymakers when he pitched up in the Golden Sands resort accompanied by a small number of the close associates of deposed UDA leaders Andre and Ihab Shoukri, including their brother Yuk.

He's been spotted flashing his cash in the pubs, clubs and casinos in the lively Black Sea resort - which has a reputation for being a favourite holiday spot with Russian gangsters - since last Monday"

"McClean and his pals certainly didn't look like they were worried about much," the Belfast Telegraph cites one surprised tourist from Belfast. "They didn't care who saw them, even though it would have been clear that some people would have recognised them, and they weren't shy about showing off their cash."

McClean is believed to have trousered more than GBP 300,000 from the north Belfast UDA's various extortion rackets and drug dealing.

The article comments that Bulgaria has been a favourite location for criminals to launder their dirty cash through its rapidly expanding property market and slack financial reporting laws.

The Ulster Defence Association in Northern Ireland is outlawed as a terrorist group in the UK and Republic of Ireland.
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