With the assistance of the Garda National Immigration Bureau (GNIB) and local gardaí, two properties were searched in Dublin 1 and Dublin 15 on Wednesday, during which the sums of cash were discovered.
Officer also seized designer handbags and clothing, including Moncler, Chanel, Yves Saint Laurent and Hermes, electronic devices and documentation relating to financial and property transactions.
Three searches were also carried out at professional premises in Meath and Dublin.
Gardaí confirmed that CAB have also restrained funds totalling €238,000 in relation to the investigation as a result of further inquiries.
The investigation is focused on assets of a person suspected to be involved in the cultivation, sale and supply of controlled drugs through a network of cannabis grow houses, Gardaí said.