Irish police say they have seized nearly $5 million in a series of raids on suspected Republican safehouses across the country, uncovering what hardline Justice Minister Michael McDowell called a "colossal crime machine, laundering huge sums of money." One suspected IRA militant was reportedly caught burning a pile of British currency in his backyard. But authorities admitted they were unable to determine if any of the money came from December's massive Belfast bank heist which British and Irish officials alike have blamed on the IRA, leading to a breakdown of peace talks. (AP, Feb. 19)

Bizzarely, some $100,000 in British pounds that authorities have "confirmed" came from the $50 million bank heist was found in a Belfast sports club used by "serving and retired police officers" following a telephone tip. (Reuters, Feb. 19)

This development may loan credence to speculation in WW4 REPORT that the bank heist was a "black propaganda" operation by British or Unionist forces aimed at discrediting the IRA and halting the peace process.