Courts / Dublin / Report
Fraud trial hears of guilty plea by Custom House Capital CEO
Summary
The fraud trial of former Custom House Capital (CHC) manager Ciara Kelleher heard on day 11 that former CEO Harry Cassidy, John Whyte, Paul Lavery, and John Mulholland have pleaded guilty to charges arising from a Garda investigation. Cassidy, Whyte, and Lavery admitted to conspiring with others to defraud investors and clients of CHC between October 2008 and July 2011. Mulholland, a non-executive director, pleaded guilty to one count of neglect on the part of a director of a body corporate regarding the company's dishonest acts. Kelleher, who pleaded not guilty to one count of conspiring to defraud CHC investors by misleading them about asset placement, remains the sole defendant facing trial. Evidence presented included testimony from Detective Garda David Coyne regarding Kelleher's 2016 arrest and Detective Garda Aidan Deveney, who detailed the retrieval of 2.5 million objects from a server and the use of forensic tools to search over 1.2 million emails. Deveney acknowledged that Cassidy allegedly pressured Kelleher regarding client valuations and fees. The trial continues before Judge Orla Crowe and the jury.
Who, what, where, when and why
What: Report matter: Fraud trial hears of guilty plea by Custom House Capital CEO. Charges or matters: conspiring with others to defraud investors in and clients and customers of Custom House Capital Ltd on dates between October 1, 2008 and July 15, 2011 within the State; the same charges; one count of neglect on the part of a director of a body corporate on a date between October 1, 2008 and July 15, 2011 within the State, being neglectful as to the discharge of the duty of director of Custom House Capital Ltd in relation to the commission by the company of acts of dishonesty by inducing clients to entrust funds and/or refrain from removing funds with the intention of making gain for itself and causing loss to another; 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 ass
When:
- October 1, 2008 Other
- July 15, 2011 Other
- March 29, 2016 Incident
- October 2008 Incident
- July 2011 Incident
- 2023-02-14 Publication
Case subjects
Defendant
Charges: charges in connection with the garda investigation; conspiring with others to defraud investors in and clients and customers of Custom House Capital Ltd on dates between October 1, 2008 and July 15, 2011 within the State; the same charges; one count of neglect on the part of a director of a body corporate on a date between October 1, 2008 and July 15, 2011 within the State, being neglectful as to the discharge of the duty of director of Custom House Capital Ltd in relation to the commission by the company of acts of dishonesty by inducing clients to entrust funds and/or refrain from removing funds with the intention of making gain for itself and causing loss to another; 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 (Admitted)
Plea: Guilty
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
Defendant
Charges: one count of neglect on the part of a director of a body corporate on a date between October 1, 2008 and July 15, 2011 within the State, being neglectful as to the discharge of the duty of director of Custom House Capital Ltd in relation to the commission by the company of acts of dishonesty by inducing clients to entrust funds and/or refrain from removing funds with the intention of making gain for itself and causing loss to another; 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 (Admitted)
Plea: Guilty
Defendant
Charges: conspiring with others to defraud investors in and clients and customers of Custom House Capital Ltd on dates between October 1, 2008 and July 15, 2011 within the State; the same charges; one count of neglect on the part of a director of a body corporate on a date between October 1, 2008 and July 15, 2011 within the State, being neglectful as to the discharge of the duty of director of Custom House Capital Ltd in relation to the commission by the company of acts of dishonesty by inducing clients to entrust funds and/or refrain from removing funds with the intention of making gain for itself and causing loss to another; 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 (Admitted)
Plea: Guilty
Defendant
Charges: conspiring with others to defraud investors in and clients and customers of Custom House Capital Ltd on dates between October 1, 2008 and July 15, 2011 within the State; the same charges; one count of neglect on the part of a director of a body corporate on a date between October 1, 2008 and July 15, 2011 within the State, being neglectful as to the discharge of the duty of director of Custom House Capital Ltd in relation to the commission by the company of acts of dishonesty by inducing clients to entrust funds and/or refrain from removing funds with the intention of making gain for itself and causing loss to another; 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 (Admitted)
Plea: Guilty
Places mentioned
- Custom House
- Dublin
- Dublin Circuit Criminal Court
Topics
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