Courts / Dublin / Report
Money launderer who previously avoided jail allowed account to be used in €100k bond scam
Summary
Magno Da Silva, 33, pleaded guilty to possessing €99,975 as proceeds of crime in his AIB account. He had previously received a suspended sentence for laundering €10,000 in a 2023 investment fraud. The court heard that the €100,000 came from a fake treasury bond scam in which the victim transferred the money to Da Silva's account after receiving a digital copy of a purported bond. Da Silva claimed the money was "clean" and intended to pay tax. Two weeks later he bought a second‑hand Mercedes for €22,900 and a Toyota for €22,400, and gave the remainder to his wife. The court sentenced him to three years' imprisonment with the final nine months suspended, ordered the sale of the two cars, and directed the proceeds to the victim. The victim's loss was €79,604. The case was heard at Dublin Circuit Criminal Court.
Who, what, where, when and why
What: Report matter: Money launderer who previously avoided jail allowed account to be used in €100k bond scam. Charges or matters: possessing €99,975 as the proceeds of crime in his account at AIB, Capel Street, Dublin 1, last September 25. Procedural stage: sentence
When:
- September 25 Incident
- 2024-07-18 Publication
Why: Da Silva said he had come to Ireland some four years ago and had worked for a period, opening his AIB account in order to receive his wages. CNI source report
Case subjects
Convicted Person
Charges: possessing €99,975 as the proceeds of crime in his account at AIB, Capel Street, Dublin 1, last September 25 (Admitted)
Plea: Guilty
Outcome: Da Silva, of The Chandler apartments, Dublin 7, was sentenced to three years in prison with the final nine months suspended at Dublin Circuit Criminal Court today. He sentenced Da Silva to three years with the final nine months suspended, and ordered that the two cars in the possession of the State be sold as soon as possible and the proceeds given to the injured party.
Places mentioned
- Capel Street
- Dublin
- Dublin Circuit Criminal Court
Topics
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