Courts / Dublin / Report
Scammers diverted €71k retirement fund to money launderer's account
Summary
At Dublin Circuit Criminal Court, a 21-year-old student pleaded guilty to handling the proceeds of crime and money laundering following a fraud scheme in which victims' emails were hacked and their money redirected to his bank account. The defendant allowed his Bank of Ireland account to be used by an unknown third party between 2020 and 2021. A recently retired woman from the south-west had her pension fund of €71,892.41 transferred into the account in May 2020, but it was recovered within four days. However, other victims lost money that was never returned: a water filtration company shareholder lost €5,000, a Kinsale restaurant owner lost €1,339, a midlands pharmacist lost €3,251, and a Donegal construction company lost €1,100. Judge Pauline Codd adjourned sentencing to October 7 to allow for a probation report and to give the defendant time to raise additional compensation funds. He had lodged €500 in court.
Who, what, where, when and why
What: Report matter: Scammers diverted €71k retirement fund to money launderer's account. Charges or matters: five counts of handling property knowing it to be the proceeds of criminal conduct; a separate charge of money laundering. Procedural stage: sentence
When:
- May 2020 Hearing Or Sentence
- October 7 Adjournment
- March 2021 Other
- April 2020 Other
- February 2021 Other
- 2022-05-10 Publication
Why: He did not identify this person because he claimed to be in fear of them, Det Gda Whelan told the court. CNI source report
Case subjects
Defendant
Charges: five counts of handling property knowing it to be the proceeds of criminal conduct; a separate charge of money laundering (Admitted)
Plea: Guilty
Outcome: He will be sentenced on October 7.; Judge Codd adjourned sentence to October 7 for a probation report, noting this would also give Fakinle time to obtain more funds to compensate victims.
Places mentioned
- Dublin
- Dublin Circuit Criminal Court
Topics
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