Claim ex-bank chairman was director of firm

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.

Tom O’Connell, prosecuting, suggested to the jury in his opening remarks that the company, Chesterton Finance, was an unregulated money lender at which Irene Johnson and Ted Cunningham were directors.

He also alleged Phil Flynn had also become a director and 10% shareholder.

Mr O’Connell also suggested that in June 2004, he was chairman of Bank of Scotland (Ireland).

He told the jury that Ted Cunningham travelled to Bulgaria in late January 2005 with a number of people, including Phil Flynn.

Ted Cunningham is charged that between January 21 and February 24, 2005, a Honda Civic valued at €5,000 — which it is claimed represented some of the proceeds of the Northern Bank robbery — was transferred by him with the intention of concealing its source to Catherine Clifford, a sister of Phil Flynn.

He is also accused of transferring a Nissan Pulsar valued at €6,000 to Catherine Nelson, referred to by Mr O’Connell as an associate of Phil Flynn.

The case continues today.