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27/03/2009
Cunningham Guilty Of Northern Cash Scam
An Irish financial adviser has been found guilty of 'laundering' cash from the £26.5m Northern Bank robbery in Belfast.
The majority of the jury at the trial of Ted Cunningham has today agreed his guilt over charges of laundering money from the infamous robbery which forced the bank to redesign and print new notes (pictured).
Irish state prosecutors said that Timothy 'Ted' Cunningham knew that more than £3 million traced to him was from the infamous December 2004 heist.
The 60-year-old, of Farran, Co Cork, had denied 20 offences linked to the 'dirty money' racket, which moved cash from Belfast to Cork in the Irish Republic.
The financier maintained that the £2.3 million discovered in a locked cupboard in the basement of his home on February 16, 2005 came from the cash sale of a gravel pit in Co Offaly to Bulgarian businessmen
Cunningham, 60, of Farran, County Cork, faces up to 14 years in jail.
A majority of the jury at Cork Criminal Court found him guilty on Friday after two days of deliberations.
A gang stole the money from the headquarters of the Northern Bank in Belfast in a raid widely blamed on the IRA.
(BMcC/JM)
The majority of the jury at the trial of Ted Cunningham has today agreed his guilt over charges of laundering money from the infamous robbery which forced the bank to redesign and print new notes (pictured).
Irish state prosecutors said that Timothy 'Ted' Cunningham knew that more than £3 million traced to him was from the infamous December 2004 heist.
The 60-year-old, of Farran, Co Cork, had denied 20 offences linked to the 'dirty money' racket, which moved cash from Belfast to Cork in the Irish Republic.
The financier maintained that the £2.3 million discovered in a locked cupboard in the basement of his home on February 16, 2005 came from the cash sale of a gravel pit in Co Offaly to Bulgarian businessmen
Cunningham, 60, of Farran, County Cork, faces up to 14 years in jail.
A majority of the jury at Cork Criminal Court found him guilty on Friday after two days of deliberations.
A gang stole the money from the headquarters of the Northern Bank in Belfast in a raid widely blamed on the IRA.
(BMcC/JM)
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