Courts / Dublin / Report
€56m in investor assets improperly transferred, CHC trial hears
Summary
During the 13th day of the Dublin Circuit Criminal Court trial, High Court inspectors' 2011 report was presented, showing that €56 million of investor assets at Custom House Capital (CHC) were improperly transferred and used to finance property deals. The inspectors, appointed after a Central Bank complaint, found the assets—including cash and liquid equity—misappropriated to syndicate property interests or other CHC business aspects. Internal emails from 2009, involving CEO Harry Cassidy and director John Mulholland, were shown, revealing discussions about funding property deals and limiting disclosure to senior portfolio manager Ciara Kelleher (51). Kelleher pleaded not guilty to conspiring to defraud investors between October 2008 and July 2011. The trial, presided over by Judge Orla Crowe, continues with the jury hearing these findings.
Who, what, where, when and why
What: Report matter: €56m in investor assets improperly transferred, CHC trial hears. 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 on dates between October 2008 and July 2011. Procedural stage: trial
When:
- October 2008 Other
- July 2011 Other
- May 29, 2009 Other
- January 29, 2020 Hearing Or Sentence
- 2023-02-16 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 on dates between October 2008 and July 2011 (Alleged Or Contested)
Plea: Not guilty
Places mentioned
- By Eimear Dodd High Court
- Dublin
- Dublin Circuit Criminal Court
- High Court
- Custom House
Topics
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