Cunningham set up six dormant companies in the past year

THE financier at the centre of the massive money-laundering investigation set up six new companies in the past year but does not appear to have carried out business in any of them.

The companies were registered by Ted Cunningham in February and March last year with a combined financial capital of €2 million, but their first annual returns indicated that they had yet to begin trading.

Two of the companies are stated to be property firms, established for the development and sale of real estate; two are described as being intended for “financial intermediation” and two are for motion picture and video production.