Europe

Northern Bank cash laundering: Financier pleads guilty

  • 18 February 2014
  • From the section Europe
Ted Cunningham changed his plea to guilty on two charges
Image caption Ted Cunningham changed his plea to guilty on two charges

Ted Cunningham, the financial adviser who denied involvement in laundering cash from the Northern Bank robbery, has changed his plea to guilty.

Cunningham, 65, of Farran, County Cork, had pleaded not guilty to nine counts of laundering £605,000 stolen from a Belfast branch of the bank in 2004.

The plea change came on the fourth day of the trial.

The money was part of £26.5m taken during a robbery carried out by the IRA.

Receiving cheques

Cunningham was re-arraigned and pleaded guilty to two charges.

A prosecution lawyer said the pleas were acceptable to the Director of Public Prosecutions.

Cunningham pleaded guilty to laundering a total of £275,400 and receiving cheques totalling 200,000 euros.

The judge granted an application from the defence to adjourn sentencing.

Cunningham was remanded on bail for sentence at Cork Circuit Criminal Court on 27 February.

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