Cunningham ordered to pay €800,000 to CAB

A Cork financial advisor who was convicted last month of laundering money stolen in the Northern Bank robbery has been ordered to pay more than €800,000 to the Criminal Assets Bureau.

CAB obtained the order against Ted Cunningham, from Farran, at the High Court in Dublin on April 9 seeking payment of more than €880,000 in tax liabilities.

Details of the judgment are published in the current issue of Stubbs Gazette magazine.

The 60-year-old was convicted on March 27 at Cork Circuit Criminal Court of laundering more than £3m (€3.4m) stolen in the Northern Bank robbery in 2004.

He was remanded in custody and will be sentenced on Friday.