The US is offering $5 million for information leading to the arrest of powerful boxing figure Daniel Kinahan

• The US is offering $5 million for information that leads to Daniel Kinahan's arrest.
• Kinahan is one of the most powerful figures in world boxing. He is also a suspected drug baron.

The United States government is offering a reward of up to $5 million for information that could lead to the financial disruption, arrest, or conviction of Daniel Kinahan — a boxing adviser and alleged gang lord.

The news was announced Tuesday at a Dublin press conference Insider attended remotely, and follows sanctions from the US Treasury earlier this week.

It is now illegal for US banks, financial institutions, or companies to do business with Kinahan.

A statement from the US Treasury on Monday said Kinahan "sources large quantities of cocaine from South America" to distribute in Ireland.

Additionally, it claimed Kinahan runs the day-to-day operations of the Kinahan Organized Crime Group (KOCG).

"Irish courts have concluded that the KOCG is a murderous organization involved in the international trafficking of drugs and firearms," the official report said.

It added that criminal activities of the KOCG include "international money laundering."

The 44-year-old Dubai-based Irishman is one of the most powerful figures in boxing, and reportedly advises world heavyweight champion Tyson Fury, welterweight titleholder Terence Crawford, and undisputed light heavyweight world champion Josh Taylor.

The US ambassador to Ireland Claire Cronin spoke first at the Dublin media event Insider attended.

She said KOCG leaders have been accused of "a wide range of heinous crimes all around the world including murder, trafficking, firearms, and narcotics.

"Countering transnational organized crime is an urgent priority for President [Joe] Biden and the US government," she said.

"Transnational organized crime is a multi-billion dollar business that transcends geographical boundaries and threatens global stability and democracies. Every year millions of lives are affected.

"And so today, the United States Department of State is pleased to announce a reward of up to $5 million for information leading to the financial disruption" of the Kinahan Organized Crime Group and "for the arrest and convictions of its leaders."

Cronin then listed by name Daniel Kinahan, his brother Christopher Kinahan Jr., and his father Christopher Kinahan Sr, as people of interest.

Garda Commissioner Drew Harris, the head of the police force in Ireland, said in a later message to the Kinahan Organized Crime Group leaders that they can run, but they "can't hide from justice forever."

Insider sought comment from Kinahan's legal representatives in the UK and the US, but did not immediately receive a response.