Gardaí have arrested a man in his 50s this morning following the seizure of the cash at a house in the West Cork town on the 14th of November.
The operation was carried out with the assistance of the Criminal Assets Bureau, the Garda Analyst Service, Revenue and Customs and Cork County Waste Management.
Gardaí say the man was arrested in Clonakilty this morning in relation to an ongoing fraud investigation, involving around 50 offences of deception which happened in the Southern and Eastern Regions.
The man is being held at a Garda Station in County Cork and investigations are ongoing
