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UAE freezes assets of Kinahan drug trafficking gang

The United Arab Emirates has frozen the assets of Ireland’s Kinahan drug trafficking gang, the Financial Times reported on Thursday.

The United States, which earlier this month offered a $5 million reward for help arresting the leaders of the gang, has likened it to some of the world’s most notorious crime networks.

Daniel Kinahan, one of the three leaders named, has been involved in organizing high-profile boxing fights in recent years.

The UAE is continuing to investigate the gang, the Gulf state said in a statement to the FT.

“The relevant authorities co-operate closely on cases involving foreign elements, in line with the UAE’s international commitments and national legal framework for combating illicit activity,” the government told FT.

The gang had gone from dealing heroin and cocaine in Dublin in the 1990s to operating across Europe, according to the Irish police.

The Dubai Media Office did not immediately respond to a Reuters request for comment.

The asset freeze includes all personal and corporate bank accounts, a person briefed on the matter told FT.