The discovery led to a follow up search in Cavan on Friday.
A man has been arrested in connection with the discovery of 116 stolen bicylces in a container in Dublin last year.
Gardaí who made the seizure on 26 December at allotments in Newcastle in Dublin, carried out a follow up search in Cavan on Friday, 28 August.
Around 6.30am, Gardaí attached to the Street Crime Unit and the District Detective Unit at Pearse Street conducted the search of a residence in Drumgola Wood in Cavan.
During the course of this search, a large amount of financial documentation was recovered in addition to €7,000 in cash and memory sticks containing photographs of suspected stolen property, including bicycles.
Following further enquiries into the financial documentation seized, a total of €122,500 was frozen in various bank accounts and a further €6,000 in cash was located in a follow up search of the residence.
A man in his 40s was arrested at the scene and he is currently detained at Pearse Street Garda Station under Section 4 of the Criminal Justice Act, 1984.
Investigations are ongoing.
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