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200 victim impact statements to be read out in sentencing of Custom House Capital fraud conspirators
Summary
Four men are to be sentenced at Dublin Circuit Criminal Court for their roles in a multi-million euro investment fraud involving Custom House Capital Ltd (CHC) between October 2008 and July 2011. Former CEO Harry Cassidy, former Head of Private Clients John Whyte, and former Head of Finance Paul Lavery pleaded guilty to conspiring to defraud investors and clients by intentionally misleading them regarding asset placement. John Mulholland pleaded guilty to one count of neglecting his duty as a non-executive director of CHC. Judge Orla Crowe is scheduled to read 197 victim impact statements before passing sentence. The four defendants, who were remanded on continuing bail, face charges related to dishonest acts inducing clients to entrust funds. Separately, Ciara Kelleher, the firm's former senior portfolio relationship manager, pleaded not guilty to a charge of conspiring to defraud investors. Her case was not concluded; a jury failed to reach a verdict earlier this year, and she will face a re-trial in 2025. The court previously noted the need to review extensive material before finalising the proceedings for the four guilty parties.
Who, what, where, when and why
What: Report matter: 200 victim impact statements to be read out in sentencing of Custom House Capital fraud conspirators. Charges or matters: conspiring with others to defraud investors in and clients and customers of Custom House Capital Ltd (CHC) by intentionally misleading them as to where and/or how their assets had been placed, contrary to common law; one count of being neglectful in the discharge of his duty of as a non-executive director of CHC; 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 on dates between October 2008 and July 2011. Procedural stage: sentence
When:
- October 1, 2008 Incident
- July 15, 2011 Incident
- October 2008 Other
- July 2011 Other
- 2008 and 2011 Other
- 2023-05-10 Publication
Case subjects
Convicted Person
Charges: conspiring with others to defraud investors in and clients and customers of Custom House Capital Ltd (CHC) by intentionally misleading them as to where and/or how their assets had been placed, contrary to common law; one count of being neglectful in the discharge of his duty of as a non-executive director of CHC; 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 on dates between October 2008 and July 2011 (Admitted)
Plea: Guilty
Outcome: Photo: Collins) By Eimear Dodd and Jessica Magee Four men who conspired in a multi-million euro investment fraud over a decade ago are to be sentenced this Friday at Dublin Circuit Criminal Court.; Cassidy of Clon Brugh, Aitkens Village, Stepaside, Co Dublin, Whyte of Beechpark, Lucan, Co Dublin, Lavery of Rafeenan, Ballynode, Co Monaghan and Mulholland were remanded on continuing bail.
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 on dates between October 2008 and July 2011 (Alleged Or Contested)
Plea: Not guilty
Defendant
Charges: conspiring with others to defraud investors in and clients and customers of Custom House Capital Ltd (CHC) by intentionally misleading them as to where and/or how their assets had been placed, contrary to common law; one count of being neglectful in the discharge of his duty of as a non-executive director of CHC; 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 on dates between October 2008 and July 2011 (Admitted)
Plea: Guilty
Outcome: Cassidy of Clon Brugh, Aitkens Village, Stepaside, Co Dublin, Whyte of Beechpark, Lucan, Co Dublin, Lavery of Rafeenan, Ballynode, Co Monaghan and Mulholland were remanded on continuing bail.
Defendant
Charges: one count of being neglectful in the discharge of his duty of as a non-executive director of CHC; 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 on dates between October 2008 and July 2011 (Admitted)
Plea: Guilty
Outcome: Cassidy of Clon Brugh, Aitkens Village, Stepaside, Co Dublin, Whyte of Beechpark, Lucan, Co Dublin, Lavery of Rafeenan, Ballynode, Co Monaghan and Mulholland were remanded on continuing bail.
Defendant
Charges: conspiring with others to defraud investors in and clients and customers of Custom House Capital Ltd (CHC) by intentionally misleading them as to where and/or how their assets had been placed, contrary to common law; one count of being neglectful in the discharge of his duty of as a non-executive director of CHC; 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 on dates between October 2008 and July 2011 (Admitted)
Plea: Guilty
Outcome: Cassidy of Clon Brugh, Aitkens Village, Stepaside, Co Dublin, Whyte of Beechpark, Lucan, Co Dublin, Lavery of Rafeenan, Ballynode, Co Monaghan and Mulholland were remanded on continuing bail.
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