Courts / Dublin / Report
'Do the magic': Custom House Capital trial hears of transactions being 'reversed'
Summary
During the Custom House Capital trial, the jury heard that staff were told reversing a transaction was part of the valuation process. Susan Fennell, who prepared client valuations, explained that valuations were reviewed by her line manager Ciara Kelleher, head of private clients John Whyte, and CEO Harry Cassidy before being sent to clients. She described a pop‑up message that prompted staff to contact Mr Lavery or finance to "back out" or reverse an amount. Fennell said she followed these instructions, noting that the phrase "do the magic" was used to request a quick reversal. She also said she had no visibility of the projects for which money was notionally allocated. The trial continues tomorrow before Judge Orla Crowe and a jury. Ciara Kelleher pleaded not guilty. Custom House Capital pleaded not guilty.
Who, what, where, when and why
What: Report matter: 'Do the magic': Custom House Capital trial hears of transactions being 'reversed'. Charges or matters: one count of conspiring with others to defraud investors in and clients and customers of Custom House Capital (CHC) Ltd by intentionally misleading them as to where or how their assets had been placed in the investment firm. Procedural stage: trial
When:
- October 2008 Incident
- July 2011 Incident
- 2023-01-30 Publication
Case subjects
Defendant
Charges: one count of conspiring with others to defraud investors in and clients and customers of Custom House Capital (CHC) Ltd by intentionally misleading them as to where or how their assets had been placed in the investment firm (Alleged Or Contested)
Plea: Not guilty
Defendant
Charges: one count of conspiring with others to defraud investors in and clients and customers of Custom House Capital (CHC) Ltd by intentionally misleading them as to where or how their assets had been placed in the investment firm (Alleged Or Contested)
Plea: Not guilty
Places mentioned
Topics
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