Courts / Dublin / Report
Second jury fails to reach verdict in Custom House Capital fraud conspiracy trial
Summary
A second jury failed to reach a verdict in the trial of Ciara Kelleher (53), the former senior portfolio relationship manager of Custom House Capital Ltd (CHC), who was accused of conspiring with others to defraud investors, clients, and customers of CHC by intentionally misleading them as to where or how their assets had been placed between October 2008 and July 2011. Kelleher, of Blackhorse Avenue, Dublin 7, denied the charge. The case was adjourned to February 27 for the prosecution to obtain further directions, with Kelleher remanded on continuing bail to that date. Meanwhile, CHC's former CEO Harry Cassidy (69), along with former head of private clients John Whyte (55), former head of finance Paul Lavery (49), and non-executive director John Mulholland (75) had previously pleaded guilty to related charges. Cassidy was sentenced to six years and ten months, Whyte to four years, Lavery to three years, and Mulholland to 12 months at Dublin Circuit Criminal Court almost two years ago. The court heard that €56 million of client money had been inappropriately transferred to property investments, with €61 million found to have been misappropriated, of which €39 million has been recovered as of March 2023.
Who, what, where, when and why
What: Report matter: Second jury fails to reach verdict in Custom House Capital fraud conspiracy trial. Charges or matters: conspiring with others to defraud investors in and clients and customers of 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 or refrain from removing funds with the intention of making a gain for itself and causing loss to another. Procedural stage: sentence
When:
- October 2008 Incident
- July 2011 Incident
- February 27 Adjournment
- October 1, 2008 Incident
- July 15, 2011 Incident
- May 2023 Hearing Or Sentence
- March 2023 Hearing Or Sentence
- 2025-02-13 Publication
Case subjects
Defendant
Charges: conspiring with others to defraud investors in and clients and customers of 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 or refrain from removing funds with the intention of making a gain for itself and causing loss to another (Admitted)
Plea: Guilty
Outcome: Cassidy (69), of Clon Brugh, Aitkens Village, Stepaside, Dublin; Whyte (55) of Beechpark, Lucan, Dublin; Lavery (49) of Rafeenan, Ballinode, Co Monaghan and Mulholland were all sentenced at Dublin Circuit Criminal Court almost two years ago.
Accused
Charges: conspiring with others to defraud investors in and clients and customers of 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 or refrain from removing funds with the intention of making a gain for itself and causing loss to another (Alleged Or Contested)
Outcome: She adjourned the case to February 27 for the prosecution to obtain further directions and remanded Ms Kelleher on continuing bail to that date.
Accused
Charges: conspiring with others to defraud investors in and clients and customers of 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 or refrain from removing funds with the intention of making a gain for itself and causing loss to another (Admitted)
Plea: Guilty
Outcome: She adjourned the case to February 27 for the prosecution to obtain further directions and remanded Ms Kelleher on continuing bail to that date.
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 or refrain from removing funds with the intention of making a gain for itself and causing loss to another (Admitted)
Plea: Guilty
Outcome: Cassidy (69), of Clon Brugh, Aitkens Village, Stepaside, Dublin; Whyte (55) of Beechpark, Lucan, Dublin; Lavery (49) of Rafeenan, Ballinode, Co Monaghan and Mulholland were all sentenced at Dublin Circuit Criminal Court almost two years ago. Mulholland received a 12-month sentence.
Defendant
Charges: conspiring with others to defraud investors in and clients and customers of 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 or refrain from removing funds with the intention of making a gain for itself and causing loss to another (Admitted)
Plea: Guilty
Outcome: Cassidy (69), of Clon Brugh, Aitkens Village, Stepaside, Dublin; Whyte (55) of Beechpark, Lucan, Dublin; Lavery (49) of Rafeenan, Ballinode, Co Monaghan and Mulholland were all sentenced at Dublin Circuit Criminal Court almost two years ago. Cassidy was handed a sentence of six years and ten months, while Whyte received a sentence of four years and Lavery was handed a sentence of three years.
Defendant
Charges: conspiring with others to defraud investors in and clients and customers of 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 or refrain from removing funds with the intention of making a gain for itself and causing loss to another (Admitted)
Plea: Guilty
Outcome: Cassidy (69), of Clon Brugh, Aitkens Village, Stepaside, Dublin; Whyte (55) of Beechpark, Lucan, Dublin; Lavery (49) of Rafeenan, Ballinode, Co Monaghan and Mulholland were all sentenced at Dublin Circuit Criminal Court almost two years ago.
Places mentioned
- Custom House
- Dublin
- Dublin Circuit Criminal Court
- When High Court
Topics
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