The MV Shingle's cargo leached tens of millions from the State in smuggled cigarettes and tobacco but now it is set to make amends as a prize attraction along the Wild Atlantic Way.
MV Shingle was seized by the Revenue Commissioners in 2014 after 32 million smuggled cigarettes and 4.5 tonnes of tobacco were found on board, with a potential loss of €14m to the Exchequer.
Those behind the project say the man-made reef will draw thousands of divers to the area and attract an additional 10,000 tourists a year to north Mayo and Sligo.
The €2m project was first floated in 2008 by a local campaign group, Killala Bay Ships 2 Reef, marking a significant community effort to transform a legal case into an economic benefit.
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