Ex-financial adviser to be sentenced for €109k insurance scam

A former on-air financial adviser with Newstalk who carried out a €109,000 life insurance scam will be sentenced next week.

Clare Dooley, aged 43, who later founded Moneybloom, which helped restructure loans for those in mortgage distress, committed the offences following a failed business venture in 2011.

Dooley was due to be sentenced yesterday at Dublin Circuit Criminal Court by Judge Desmond Hogan, but the prosecution said “certain matters” needed to be clarified by the State and it would be to everyone’s benefit to adjourn sentencing.

Dooley, of Hillcrest, Julianstown, Co Meath, pleaded guilty to 10 counts of making and using false declaration forms at New Ireland Assurance plc, Dawson St, Dublin, and in the State between November 23, 2010, and September 27, 2011. She has no previous convictions.

Garda Niamh Seberry told Ms Grant a complaint was madein February 2013 by New Ireland Assurance regarding 38 fictitious life insurance policies that had been taken out by Dooley using false information.

Dooley had a financial services company and was working as an intermediary between clients and the insurance company. She sent in the application forms and received commission on the policies. The company began an investigation in 2011 after noticing a huge rise in the commission paid to Dooley

In a short period of time. she had been paid €109,000 in commission. Dooley was arrested and interviewed after Garda searches at her home and business unearthed relevant documentation.

Between 2011 and 2014, Dooley was a on-air financial adviser on Newstalk’s Global Village show.

Lorcan Staines, defending, submitted the motive had not been permanent theft of the money and that she would ultimately not have profited from the offences.

He said Dooley had come to Dublin from Scotland in the 1990s where she did office work before moving into the financial industry. He said she had never been out of work since the age of 14. He said she and her husband were in severe financial difficulties in 2011 following a failed business venture.

When heavily pregnant with her second child, Dooley found herself the sole breadwinner after her husband suffered from depression. They were not entitled to social welfare as both were self-employed.

Mr Staines handed in a psychological report and number of testimonials. The report said Dooley felt severe guilt and remorse, and “pride” had prevented her asking for help. He said adverse publicity would make it difficult for her to find work in the financial sector.


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