A Cork financial adviser who was found guilty today of laundering cash from the £26.5m (€28.5m) Northern Bank robbery was remanded in custody pending sentencing on April 24.

The Cork man on trial for money-laundering declared to detectives during an off-camera interview in a garda station: “Phil Flynn is the boss behind everything.”

THE former chairman of Bank of Scotland (Ireland) Phil Flynn, was — it has been alleged — a director and shareholder of the money-lending business operated by one of the accused in the Ted Cunningham money laundering trial.

A financial adviser was freed on bail tonight after being charged over an alleged IRA money laundering ring set up after the notorious £26.5m (€34bn) Northern Bank robbery.

ONE of the most intriguing elements of the investigation into the Northern Bank robbery and subsequent money-laundering operation was the theory that the masterminds behind it planned to buy a bank in Bulgaria to convert the hot cash into legal tender.