Financial advisor remanded on money-laundering charges
A Cork financial advisor who is accused of money-laundering - arising out of the investigation of the 2004 Northern Bank robbery - was back at Cork District Court today and remanded on continuing bail to appear again in a month’s time.
Inspector Michael Comyn indicated that the Director of Public Prosecutions had directed that Timothy Cunningham (aged 59) of Woodbine Lodge, Farran, Co Cork, should face trial by indictment.
Judge Uinsin MacGruairc acceded to a prosecution application to remand Timothy (Ted) Cunningham on continuing bail to appear again on April 23 to allow time for preparation and service of documents.
Also in Cork District Court arising out of the investigation of the same bank robbery, an Englishman, Don Blayney (aged 48) with an address at Cnoc Abhainn, Old Church Road, Passage West, Co Cork, was remanded on bail until April 23. Again the DPP has directed trial by indictment.
Blayney is charged with possessing 220 live rounds of 7.62mm x 39mm ammunition at his home in Passage on February 18, 2005 in such circumstances as to give rise to a reasonable inference that he did not have them in his possession for a lawful purpose.
It emerged in court previously that Mr Blayney replied: 'I am definitely not guilty' when charged after caution. He was not required to speak in court today where he was represented by solicitor, Catherine Kirwan. Blayney’s bail is €10,000 and an independent surety of €5,000
Cunningham was represented by John O’Donoghue who applied for one variation in the bail conditions. Cunningham had been signing on three times a week at the Bridewell garda station in Cork, between 6pm and 9pm and this was changed to between 9am and 9pm. He is on his own bail of €200,000 and an independent surety of €200,000.
Cunningham is charged with a total of 10 charges of money laundering arising from an extensive garda investigation following the robbery of £26.5m sterling from the Northern Bank in Belfast on December 20, 2004.
He is charged with possessing £3,010,389 between December 20, 2004 and February 16, 2005 at Farran knowing or believing it represented the proceeds of the robbery at the Northern Bank Cash Centre, Donegall Square West, Belfast.
He is also charged with six counts of transferring cash sums of between £56,000 and £200,000 to various named individuals and three counts of transferring cars to named individuals, at a time when he knew or believed the cash and the cars represented proceeds of the Northern Bank.
