Courts / Dublin / Report
Senior Custom House Capital execs get date for sentencing hearing
Summary
Four senior executives of Custom House Capital are scheduled for sentencing at Dublin Circuit Criminal Court on April 21 before Judge Orla Crowe. Former CEO Harry Cassidy, former head of private clients John Whyte, and head of finance Paul Lavery pleaded guilty to conspiring with others to defraud investors and clients by intentionally misleading them regarding asset placement. Non-executive director John Mulholland also pleaded guilty to one count of neglectful discharge of a director's duty in relation to the company's dishonest acts. The offences are alleged to have occurred between October 2008 and July 2011. The sentencing hearing is expected to last one day. Separately, former senior portfolio relationship manager Ciara Kelleher pleaded not guilty to one count of conspiring to defraud investors and clients. After a jury failed to reach a verdict earlier this month, Judge Martin Nolan set a re-trial date for January 13, 2025. The matter involving Kelleher remains pending and has not been concluded.
Who, what, where, when and why
What: Report matter: Senior Custom House Capital execs get date for sentencing hearing. Charges or matters: conspiring with others to defraud investors in and clients and customers or Custom House Capital Ltd by intentionally misleading them as to where and/or how their assets had been placed contrary to common law; one count of neglectful discharge of the duty of a director in relation to the commission by the company of acts of dishonesty by inducing clients to entrust funds, refrain from removing funds with the intention of making a gain for itself and causing loss to another; one count of conspiring with others to defraud investors, clients, and customers of Custom House Capital Ltd by intentionally misleading them as to where or how their assets had been placed in the investment firm. Procedural stage: sentence
When:
- October 1, 2008 Incident
- July 15, 2011 Incident
- April 21 Hearing Or Sentence
- October 2008 Incident
- July 2011 Incident
- January 13, 2025 Incident
- 2023-03-08 Publication
Case subjects
Convicted Person
Charges: conspiring with others to defraud investors in and clients and customers or Custom House Capital Ltd by intentionally misleading them as to where and/or how their assets had been placed contrary to common law; one count of neglectful discharge of the duty of a director in relation to the commission by the company of acts of dishonesty by inducing clients to entrust funds, refrain from removing funds with the intention of making a gain for itself and causing loss to another; one count of conspiring with others to defraud investors, clients, and customers of Custom House Capital Ltd by intentionally misleading them as to where or how their assets had been placed in the investment firm (Admitted)
Plea: Guilty
Outcome: Photo: Collins) Four senior executives of investment firm Custom House Capital are due to be sentenced at Dublin Circuit Criminal Court next month in relation to a conspiracy to defraud investors over a decade ago.
Defendant
Charges: one count of conspiring with others to defraud investors, clients, and customers of Custom House Capital 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 neglectful discharge of the duty of a director in relation to the commission by the company of acts of dishonesty by inducing clients to entrust funds, refrain from removing funds with the intention of making a gain for itself and causing loss to another; one count of conspiring with others to defraud investors, clients, and customers of Custom House Capital 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 or Custom House Capital Ltd by intentionally misleading them as to where and/or how their assets had been placed contrary to common law; one count of neglectful discharge of the duty of a director in relation to the commission by the company of acts of dishonesty by inducing clients to entrust funds, refrain from removing funds with the intention of making a gain for itself and causing loss to another; one count of conspiring with others to defraud investors, clients, and customers of Custom House Capital 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 or Custom House Capital Ltd by intentionally misleading them as to where and/or how their assets had been placed contrary to common law; one count of neglectful discharge of the duty of a director in relation to the commission by the company of acts of dishonesty by inducing clients to entrust funds, refrain from removing funds with the intention of making a gain for itself and causing loss to another; one count of conspiring with others to defraud investors, clients, and customers of Custom House Capital Ltd by intentionally misleading them as to where or how their assets had been placed in the investment firm (Admitted)
Plea: Guilty
Places mentioned
Topics
Related court reports
- Man charged with having 56k child abuse images and videos remanded on bail
- Ex-Dáil hopeful's allegations against former employer 'complete fantasy', WRC told
- Mater must pay €10k to worker who said he was wrongly accused of abusing patient
- 'I think we know I won't be getting bail' - Daniel Kinahan charged with directing criminal organisation
- Letting agent who claimed alleged domestic violence victim abandoned tenancy by fleeing to refuge must pay €14.7k
- 77-year-old with 470 convictions told Luas staff to 'f**k off'
If a fact, identity, locality or legal outcome needs review, email the newsroom with this report's details prefilled.
Email a correction request