NI estate agent accused of money laundering

A leading Northern Ireland estate agent was accused of money laundering today.

Philip Johnston, aged 39, was charged by the same team of detectives investigating the financial affairs of ousted Ulster Defence Association boss Jim Gray.

Mr Johnston, who runs a network of branches across East Belfast, faced four charges, all connected to property, contrary to the Proceeds of Crime Act.

Although the estate agent replied not guilty to each alleged offence, a detective sergeant told Belfast magistrates’ court he could connect him.

Johnston, of Kings Road in the city, was held by detectives last Friday as they prepared to carry out searches at each of his office premises.

Det Sgt Raymond Cromie, the officer in charge of the investigation, told the court that warrants were being requested in the High Court to allow officers to go into every estate agency owned by the accused.

Mr Cromie objected to an application for bail by the defence.

He said: “Due to the nature of the offences police have concerns that if Mr Johnston was to be released on bail at this time he may interfere in the course of justice.

“He has control or access to certain material which would be significant to the investigation.”

The estate agent, who employs more than 40 sales and administration staff at the only independent firm with a compete network in East Belfast, spoke only to confirm he understood the charges.

His arrest followed that of Gray, the former UDA commander in the east of the city.

Gray, 47, appeared in court on Saturday charged with possessing and concealing criminal property.

He was arrested by police in Loughbrickland, Co Down, on Thursday, allegedly with a Northern Bank banker’s draft to the value of €10,000 and more than £2,700.

Police swooped just days after he was toppled from his position as a so-called brigadier by the para-military organisation.

In court today, Johnston was accused of money laundering through a house in the city and also two counts of taking part in an arrangement that involved the use of criminal property by, or on behalf, of another person.

In the fourth charge it was alleged that he failed to disclose as a member of the regulated sector information on a person he knew or suspected of money laundering.

The alleged offences stretched back to July, 2001.

His solicitor told the court: “Mr Johnston vehemently denied any involvement in all four charges when they were put to him.”

Even though he accepted his client was “a man of some means by virtue of his employment and property portfolio”, the court heard an application for legal aid would be made.

The accused was remanded in custody until Wednesday when a bail hearing is due to be heard.