Cunningham denies money-laundering charges

The 65-year-old Corkman who denies money-laundering some of the proceeds of the December 2004 Northern Bank robbery was described yesterday as carrying £175,000 in £20 sterling notes into a property developer’s office as security for a loan the following February.

John Sheehan, who owned Cúl na Gréine House in Ballincollig, Co Cork, where he and Timothy (Ted) Cunningham had offices, gave this evidence at the money-laundering trial.

Mr Sheehan said he got a call on February 5, 2005 asking him if he would lend Mr Cunningham €200,000 for a period of six to eight weeks.