Jury in Cork money laundering trial begins deliberations

The jurors in the trial of a financial adviser accused of laundering money from the £26.5m (€28.2m) Northern Bank robbery were tonight told to use their common sense when deciding the case.

As the jury retired to consider its verdicts after the 10-week trial at Cork Circuit Criminal Court, Judge Cornelius Murphy warned members to put any sympathies they have for those involved out of their minds.

State prosecutors claim Timothy “Ted” Cunningham knew that more than £3m €3.2m) traced to him was from the infamous December 2004 heist.

The 60-year-old, of Farran, Co Cork, has denied 10 offences linked to the dirty money racket which moved cash from Belfast to Cork.

Since Tuesday afternoon Judge Murphy has been summing up to the jury, outlining the garda evidence and reading back Cunningham’s interview notes, in which he denied any involvement with the IRA or laundering money from the heist.

Gardaí claimed that, under interrogation, the money lender said he was given £4.9m (€5.23m) from an unidentified male in a northern-registered car whom he met on four separate occasions.

It is alleged that, when the final delivery of £1.5m (€1.6m) arrived in new uncirculated Northern Bank notes, Cunningham panicked and gave the cash to an unnamed associate in Passage West, Co Cork.

The remaining £1m (€1.06m) shortfall was traced back to friends and clients to whom Cunningham owed money.

Cunningham’s firm, Chesterton Finance, was an unregulated money lending service which charged cash poor but asset rich clients up to 25% interest on loans. It also offered investors 10% interest.

The financier maintained that £2.3m (€2.45m) discovered in a locked cupboard in the basement of his home on February 16, 2005 came from the cash sale of a gravel pit in Co Offaly to Bulgarian businessmen.

During the 44-day trial he insisted that the cash came from contacts in Bulgaria, where he travelled with business partner Phil Flynn, once one of Ireland’s top industrial relations trouble-shooters and then chair of the Royal Bank of Scotland in Ireland.

In charging the five women and seven men, Judge Murphy told them that, in assessing the evidence, they should have regard for what the witnesses said, their demeanour, and how they appeared in the witness box.

“You should apply your own robust common sense in deciding the issues,” said Judge Murphy.

“There are 10 separate counts. You must consider each count separately. Therefore we require from you 10 separate and distinct verdicts.”

The £26.5m (€28.2m) had been stolen in the notorious bank robbery by a gang who kidnapped assistant manager Kevin McMullan and his wife Kyran, taking her to an undisclosed location while he was forced to steal the money.

The judge told the jury to approach the case as dispassionately as possible.

“You may have considerable sympathy for various people in this case. You are to put those sympathies out of your mind,” continued Judge Murphy.

The title of this is the People of Ireland against Mr Cunningham. It is not Northern Bank against Mr Cunningham and not members of the gardaí against Mr Cunningham.

“You are the balance of justice between the people of Ireland and the accused.

“The burden of proof of all the issues is on the prosecution to prove its case beyond reasonable doubt.”

The jury was sent out at 3.20 pm and returned at 5.10 pm with a question on the legal definition of money-laundering.

The judge explained: “In order to convict Mr Cunningham you have to be convinced beyond reasonable doubt he had possession or used money from the Northern Bank robbery and that he knew, believed or was reckless that it was in fact stolen and that you have to be convinced again beyond reasonable doubt that in fact the money was stolen from the Northern Bank.”

At 6.15 pm. the jury had two questions, one in relation to the markings on a particular bank note, the other a request for a copy of the defendant’s entire testimony. The judge explained that the law did not allow for that but that if they had questions on particular parts of the testimony he would try to answer them if possible.

Sent home at 6.30 pm. they were directed to return to continue their deliberations tomorrow at 10.30 am as the trial goes in to its 45th day.