Man accused of money-laundering denies changing story

A man accused of money-laundering today denied changing his story from telling detectives he received £2.3m (€2.5m) from Bulgarian businessmen in one drop to telling the jury he received it in six different drops.

Ted Cunningham told the jury that he received the cash in six different drops between October 2004 and February 2005. Prosecution senior counsel, Tom O’Connell, said Cunningham told gardaí on February 17, 2005 that the £2.3m (€2.5m) came in one drop.

Mr O’Connell said: “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 suggested that the accused had to change the account of receiving the cash found by the gardaí on February 16, 2005 in the basement of his home in Farran in one drop because it did not hold up to the objective facts of the case. Cunningham replied: “That is not true.”

Mr O’Connell read a section of the transcript of Cunningham being questioned on February 17, 2005 about the money found in his basement: “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.”

Responding to this section of the transcript, Cunningham said yesterday: “I said since October meaning the first of the monies came in October.”