GERRY Hutch is investing in pubs and property in Lanzarote as he seeks to put the past behind him almost a year on from his acquittal for the murder of David Byrne.
The Monk has spent most of his time on the Spanish island since his release and is living in the Las Tias Palmas area, a few miles outside the popular resort of Puerto Del Carmen.
It is understood that he has invested in one or two pubs on the island and has tried to buy two other properties that are regularly rented by tourists in the northern part of Lanzarote.
One Irish resident said: “Gerry is like a celebrity around here and has spent most of his time on the island since he was freed by the courts.
“He is not trying to hide and regularly visits different bars and restaurants in Puerto del Carmen.
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“You will often spot him sitting in the corner drinking a bottle of Sprite or Lucozade.
“He has made many friends and business associates here and generally keeps himself to himself.
“He has an interest in one or two bars and is also trying to move into the Spanish bed and breakfast market.
“I know he had his eye on two properties on the north of the island but I didn’t hear whether the deals were closed or not.
“He seems to be planning to stay here full time and he and his wife are well-liked and respected by the local expat community.”
Thousands of Irish people are now living full time or half the year in Lanzarote to escape the winter blues.
It has become one of the most popular places for retirees who want a new life in the sun and guarantees good weather all year. There are also flights to Dublin daily.
Hutch also owns two to three other apartments on the island along with his property interests on the Costa del Sol, in London, Florida, Turkey and Bulgaria, which collectively are believed to be worth over €10 million.
The one-time boss of the Hutch family organised crime group is still a target for the Kinahan crime gang over the 2016 Regency Hotel shooting of David Byrne, a close associate of Christy and Daniel Kinahan.
However the Kinahans’ ability to target The Monk is diminished as they are wanted by the American and Irish governments and are currently hiding in Dubai.
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Up to 20 to 30 of their henchmen in Ireland have been jailed.
The Kinahans tried to kill The Monk in 2015 when they sent a hitman to Lanzarote to get him, but the attempt failed.
The source added: “Gerry is not stupid and still takes his personal security seriously, but the locals here look out for him and he is well-protected.
"He seems to want to put the past behind him and all of his business interests here are legitimate.”
Although Gerry Hutch was cleared of Byrne’s murder by the Special Criminal Court in April last year, gardai are still investigating his family’s criminal links.
Hutch was arrested in the summer of 2021 while having dinner with his wife at a restaurant in Fuengirola in Spain and was extradited back to Ireland on the Regency Hotel murder charge.
He remained in custody for two years until he was found not guilty and set free.
After his release he spent a few weeks in Dublin but then headed back to his beloved Lanzarote.
