CAB target waits to hear if she will get back designer goods collection

A fur coat and tens of thousands of euro worth of designer bags were among the luxury items seized from Yan Yan Fan by the Criminal Assets Bureau (CAB).

In April, she defended herself during a hearing in which CAB sought to have the goods along with €229,000 declared the proceeds of crime.

The Bureau’s case is that Ms Fan is linked to an organised crime gang involved in cannabis grow-houses and that she had a role managing properties.

Judge Alex Owens had said he would fast track the judgement, but at a recent sitting he told her it would not be ready until next term.

Despite having worked on the case “every day for the last three weeks” it was not yet ready, but it was nearly finished.

Ms Fan who appeared in court, thanked the judge.

She previously told the court said she is a lover of fashion and denied the goods were bought as part of a sophisticated money-laundering operation between Ireland and China.

She is also linked to 12 bank accounts which she controls, in which €1.7m went through since 2005.

Counsel for CAB said it “beggars belief” that all the cash transactions came from her parents in China, and that her evidence it came from the sale of property was “inconsistent.”

The purchase of the luxury goods could not have been funded by her declared income, which at its highest was just under €30,000 a year, CAB have claimed.

A property in Dublin was bought for €145,000 in 2015, and later sold for €229,000, using bank drafts and cash transfer and €50,000 from “unknown sources.”

She spent €129,000 on luxury goods on her platinum Brown Thomas card between 2010 and 2020, it was heard.

While she says the money came from her parents, CAB said she did not provide any evidence to back her assertion.

Investigators claim the goods were part of a money-laundering system using the ‘daigou’ method in which money is sent from China to buy luxury goods abroad.

The items seized include a Chanel Petite Timeless Tote Black Caviar Leather valued at €2,500, a Louis Vuitton On-the-Go Tote MM valued at €2,000, a Chanel Medallion Bag with Grained Calfskin valued at €4,400 and a Louis Vuitton Petite Malle Trunk valued at €3,950.

Other items include a Chanel Gold Vinyl Chain Shopper valued at €1,000, a Louis Vuitton Passport Cover Monogram valued at €245 and Jimmy Choo shoes.

“I don’t know why they don’t believe me,” she said about CAB.

Ms Fan said she spends money on shoes and clothes, “it’s the only hobby I have.”

The headline figure of €1.7m put forward by CAB is “shocking” she said but that it is not true when you go into the detail.

She said many of the transactions are the same money being moved about with sale of apartments and transfers from her parents.