MV Matthew’s $1 Sale and Lost Revenue | Ireland News

The MV Matthew, the vessel behind Europe’s biggest cocaine bust worth 157 million euros, was sold for just one dollar after costing the state 17 million euros to maintain. A British firm claimed they could’ve turned a profit of up to 7 million dollars by scrapping or reactivating it, but missed the chance after learning of the sale too late. Revenue says they received an email in April, but contracts were already sealed. The ship’s upkeep alone cost 120,000 euros weekly, totaling over 16.8 million euros in expenses. Meanwhile, eight men linked to the bust—including those tied to a sunken vessel—received prison sentences ranging from 13.5 to 20 years, totaling 129 years behind bars. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/a560593b95a10874