Controller who stole €1.7m from Finglas Credit Union jailed

A credit controller who stole almost €1.7m from Finglas Credit Union over a seven-year period by taking out bogus loans and stealing cheques has been jailed for three years.

Paul O’Brien, aged 51, took out additional fraudulent loans in order to make repayments on the pre-existing ones. The money was used to fund his severe gambling addiction and on three occasions to pay either his mortgage or credit card bills.

Garda Lisa Sheehan confirmed the total amount taken from the credit union was €1,669,696 in the form of 215 fraudulent loans and 13 stolen cheques, however because he used some of the cash to make repayments on the loans, the net loss to the credit union was €453,300.

O’Brien of O’Valley Park Road, Finglas, pleaded guilty at Dublin Circuit Criminal Court to sample charges which included nine counts of stealing various amounts of cash from Finglas Credit Union and one charge of falsifying a loan application in the amount of €17,000 on dates between February 26, 2005 and May 12, 2012.

The married father of three has no previous convictions and a number of documents were handed in to court to confirm that he had a severe gambling problem at the time.

Judge Martin Nolan said O’Brien was a very good family man and a good member of society who is unlikely to re-offend. He said he has no other criminal record whatsoever but that the extent of his offending meant he must be jailed.