Courts / Dublin / Report
CHC exec used own pension money to avoid client going to regulator, emails allegedly showed
Summary
During a Dublin Circuit Criminal Court trial, emails were presented that alleged a non‑executive director of Custom House Capital (CHC), John Mulholland, used €60,000 from his pension fund to credit a client's account and reverse a property transaction in 2010. The emails, read to the jury, show Mulholland telling CHC head of private clients John Whyte and CEO Harry Cassidy that he believed no error had been made, but he took the money to "remove this difficulty from CHC's book" and avoid the client going to the regulator. Ms Ciara Kelleher, a senior manager at CHC, was questioned by gardai about these emails and denied knowledge of any wrongdoing. She said she was not involved in any secret circle and believed her team followed normal procedures. Ms Kelleher, aged 51, pleaded not guilty to one count of conspiring to defraud investors, clients and customers of CHC Ltd, with alleged offences occurring between October 2008 and July 2011.
Who, what, where, when and why
What: Report matter: CHC exec used own pension money to avoid client going to regulator, emails allegedly showed. Charges or matters: one count of conspiring with others to defraud investors, 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:
- January 29, 2020 Incident
- October 2008 Incident
- July 2011 Incident
- 2023-02-10 Publication
Case subjects
Defendant
Charges: one count of conspiring with others to defraud investors, 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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