Accused denies changing story on cash deliveries

THE man accused of money-laundering has denied changing his story from telling detectives he received £2.3 million from Bulgarian businessmen in one drop to telling the jury he received it in six different drops.

Ted Cunningham said he received the cash in six drops between October 2004 and February 2005.

Tom O’Connell, prosecuting, said Cunningham told gardaí on February 17, 2005, that the £2.3m came in one drop.

“The reason you now changed your account of the 17th is this: You realise that if you said (to the jury) that all the money came in October and there are marks on notes that you could not explain such as the Lurgan bank stamp for December 2004 and evidence in relation to handwriting on notes, you realised that if you stuck to the story it would not hold up. You have changed your story to six drops to account for it.”

Cunningham said this suggestion was totally untrue. “I could not have said I received all the money (in one drop) because I did not receive all the money.

“My understanding was that (the detectives were asking) when did you start getting the money? I was open and honest and said the first lot came in October. When I was being interviewed about how long was it there, I said since last October — meaning the first lot of money I received was in October. I was not asked specifically was all the money dropped in one drop, I was being honest and open, I said yes I got money in October.”

Mr O’Connell read a transcript of Cunningham being questioned on February 17, 2005, about the money found in his basement the day before by gardaí. “How much? £2.3m. How long is it there? Since last October, it came from Bulgarians, I got a call to say it would be across the road in the church yard, I would say early October, I would have an idea if I had my diary. This money came last October? Yes. Over four months ago? Yes.”

Cunningham responded: “I said since October meaning the first of the monies came in October.”

Asked why various sums received between October 2004 and February 2005 were not put in a bank to gain interest, the accused said: “The arrangements were that when all the funds were here and the contracts drawn up (for the purchase of the pit) and the legal side of it done these people would come and lodge the funds (with their solicitor).”

Mr O’Connell asked what was the point in them giving him money to assemble and for them to take the money back at a later stage to lodge with their own solicitor? Cunningham said he had made similar arrangements with other people.

Mr O’Connell asked if he had made “similar arrangements with men in jeeps with bags of money on dark nights in church yards?”

Cunningham replied: “You are obviously not living in the real world with people who had access to cash, I have gone to farmers, I have gone to publicans, turf-cutters, jewellers, a lot of people did not trust the banks and isn’t their words coming true.”