Courts / Dublin / Report
Man with 31 priors took part in €125k invoice redirection fraud
Summary
Kayode Falade, 37, of Phibsboro, Dublin 7, pleaded guilty to five counts of money laundering committed between June 27 and 29, 2017. The charges include converting proceeds of crime into Nigerian currency at a Blanchardstown post office, possessing up to €5,000 in proceeds from ATMs in north Dublin, and transferring proceeds into a bank account. The court heard that hackers intercepted a €125,702 invoice payment intended for Cobec Engineering, diverting it to an EBS account linked to Falade. Although €114,621 was recalled, IPUT suffered an unrecovered loss of €11,091. Falade, who has 31 previous convictions, was arrested in March 2018. Defence counsel Simon Matthews BL stated Falade was not involved in the hacking and was easily identified via the bank account. He noted Falade works full-time, pays maintenance for a son, and has complied with bail conditions. Judge Orla Crowe adjourned sentencing until Friday, June 23.
Who, what, where, when and why
What: Report matter: Man with 31 priors took part in €125k invoice redirection fraud. Charges or matters: five counts of money laundering between June 27 and 29, 2017, including one charge of converting the proceeds of crime into Nigerian currency at a post office in Blanchardstown. Procedural stage: sentence
When:
- June 27 Incident
- May 2017 Hearing Or Sentence
- March 2018 Incident
- Friday, June 23 Adjournment
- 2006 and 2014 Incident
- 2023-06-21 Publication
Why: They then created similar, new email accounts by adding an extra letter to various email addresses in order to correspond with suppliers and people owed, or owing, money. CNI source report
Case subjects
Defendant
Charges: five counts of money laundering between June 27 and 29, 2017, including one charge of converting the proceeds of crime into Nigerian currency at a post office in Blanchardstown (Admitted)
Plea: Guilty
Outcome: Judge Orla Crowe adjourned sentencing until this Friday, June 23.
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