Courts / Dublin / Report
Agent stole €70k in tenant deposits to fund gambling addiction
Summary
In a Dublin Circuit Criminal Court hearing, Richard Power, a 35‑year‑old former letting negotiation manager for Wyse Property Management Ltd, pleaded guilty to stealing €69,530 in tenant deposits over a two‑year period. Power accessed the company's system and altered tenant bank details to redirect refunded deposits to his own account, then reverted the changes before detection. The theft, uncovered during an audit prompted by a supervisor's notice of missing refunds, was linked to Power's gambling addiction. He admitted manipulating accounts and confessed to ongoing counselling for the addiction. Power has no prior convictions, is currently unemployed, and lives in a parent‑owned property while receiving pandemic unemployment payments. He has lost his property management licence, was fined €5,000, and the court adjourned sentencing to February 1. The case highlights the misuse of employee access to client funds for personal gambling expenses.
Who, what, where, when and why
What: Report matter: Agent stole €70k in tenant deposits to fund gambling addiction. Charges or matters: one count of stealing from his employer, Wyse Property Management Ltd, on dates between June 2018 and June 2020. Procedural stage: sentence
When:
- June 2018 Hearing Or Sentence
- June 2020 Hearing Or Sentence
- May 2020 Other
- February 1 Adjournment
- 2021-12-07 Publication
Why: A letting agent stole nearly €70,000 in tenant deposits from his employer over a two-year period to fund his gambling addiction, a court has heard. CNI source report
Case subjects
Defendant
Charges: one count of stealing from his employer, Wyse Property Management Ltd, on dates between June 2018 and June 2020 (Admitted)
Plea: Guilty
Outcome: He has since lost his property management licence and was fined €5,000.; Judge Elma Sheahan adjourned the matter to February 1 when she will hand down sentence.
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