Cork man gets suspended sentence for Northern bank raid laundering

A 65-year-old financial advisor from Cork has been given a five-year suspended jail sentence for his part in money laundering around £275,000 (€334,892) stolen in the Northern bank raid.

Ted Cunningham of Woodbine Lodge, Farran, Co Cork was given the sentence at Cork Circuit Criminal Court after he pleaded guilty to two counts of money laundering.

The charges state that Cunningham committed money laundering on both occasions and was reckless that the monies involved were the proceeds of a crime.

Over £26m (€31.66m) was taken in the raid which happened in Belfast in December 2004.