'Vulnerable' Blarney man avoids jail for laundering €700k

The man's barrister told the court his client was preyed upon by a group of people to carry out the money-laundering

Judge Seán Ó Donnabháin was told that Mr  McCarthy derived no benefit from his criminality.

A Blarney man caught laundering almost €700,000 in cash in 2017 was given a two-year suspended jail term yesterday.

28-year-old Andrew McCarthy of Chalwood, Blarney, County Cork pleaded guilty to the money-laundering charge.

Judge Seán Ó Donnabháin was told that McCarthy derived no benefit from his criminality.

The charge faced by Andrew McCarthy stated that on June 2, 2017, he did engage in converting, transferring, handling, acquiring, possessing or using the said property – the proceeds of criminal conduct, namely €696,466, - being money credited to his account at Bank of Ireland, knowing or being reckless as whether this money was the proceeds of criminal conduct.

The charge was brought contrary to the Criminal Justice (Money-laundering and Terrorist Financing) Act 2010.

Detective Sergeant Clodagh O’Sullivan said the crime was committed by redirecting a commercial payment of almost €700,000 to the defendant’s account in Cork and the use of that money by bank card spending and withdrawals.

One transaction saw him buy a €34,000 Rolex watch. This man was later identified and the watch was confiscated from a man wearing it as he passed through Dublin Airport, Det. Sgt O’Sullivan said.

After a number of transactions the remaining funds in the account were returned to the company that made the payment, following the garda investigation.

Defence barrister, Brendan Kelly, said: “McCarthy was a very vulnerable person. He was preyed upon by (a group of non-nationals). He was escorted by individuals (to each transaction) to oversee what he was doing, such was the extent of the intimidation.”