Cunningham given five-year suspended sentence for laundering money

Cork financier Ted Cunningham undertook to resign as director of a finance company yesterday and not pursue any such work in the future as he was given a five-year suspended jail sentence for laundering money from the Northern Bank robbery of 2004.

Judge Seán Ó Donnabháin said, in the interests of protecting the public, Cunningham should have nothing to do with this type of work to which he was entirely unsuited.

“His plea of guilty is a significant matter. It puts his involvement beyond all doubt. Out of his own mouth he admits his guilt publicly now. There are no appeals, there is no doubt.”