A former Fine Gael politician charged with money laundering more than €2.6 million through a number of companies linked to Cyril ‘Dublin Jimmy’ McGuinness was remanded in custody on Friday, with Judge Kenneth Connolly indicating a custodial sentence would be imposed next week.
Frank Kilbride (70), of Aughakilmore, Ballinalee, Co Longford, appeared before Longford Circuit Court on Friday, having previously pleaded guilty to three counts of laundering sums totalling €2,604,564.05 through three bank accounts on dates between October 2017 and March 2018.
Det Garda Rhona Bohan told the court that in November 2019 a number of searches were carried out in this jurisdiction, Northern Ireland and Buxton, UK, on foot of warrants issued in respect of the assault and abduction of Quinn Industrial Holdings director Kevin Lunney.
During the course of those searches, a partial AIB bank statement was discovered in the name of WOI Plant Hire & Supplies Ltd, which provided a narrative relating to another company, TJO Developments.
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On November 29th, 2019, Mr Kilbride made contact with gardaí to make a statement regarding TJO Developments, after he received documentation from the Revenue Commissioners regarding an outstanding VAT bill.
Mr Kilbride told gardaí that in the spring of 2017 he had been approached by a third party looking to see if he had any companies for sale. Mr Kilbride sold the man TJO Developments for €3,000.
A number of months later, Mr Kilbride was informed by a woman working in a north Longford bank that the account for TJO Developments was still in his name, with money going through it. The bank worker advised him to “change the numbers” on the account.
Following a change of details on the account, Mr Kilbride said a man known to him as Dublin Jimmy arrived at his house with two men – one from Louth and the other from Northern Ireland – to talk about the account.
Dublin Jimmy told Mr Kilbride that there was €100 left in the account, which he should “hold on to for medical expenses”. Mr Kilbride perceived that as a threat, the court heard.
When Mr Kilbride contacted the third party who had purchased the account on behalf of Dublin Jimmy – who Mr Kilbride later learned was Cyril McGuinness – he was told to “pass no heed on Dublin Jimmy, he’s only blowing steam”.
During the course of the investigation, gardaí became aware of two Irish bank accounts associated with TJO Developments, one of which had moved a total of €1,727,427.28 and the other which moved €867,143.80 to companies across Ireland, the UK and Europe.
Gardaí also became aware of a third bank account, which was Mr Kilbride’s personal account. This account was linked to the moving of about €10,000 in funds.
Vincent Heneghan, senior counsel for Mr Kilbride, said the case was one of “a man who should know better, and a man who acted stupidly out of desperation in a case of intimidation”.
“There’s no doubt he involved himself, he was active himself and an important cog in a wider enterprise. He unwittingly and stupidly allowed himself to be used,” said Mr Heneghan.
The judge told Mr Heneghan he “can’t see any way of dealing with the matter on a non-custodial basis”, stressing that €2.6 million was “a lot of money”.
“I want there to be no false hope for a non-custodial term,” he said, opting to remand Mr Kilbride in custody until Tuesday, when he will deliver his judgment.
“I do regret having to remand him in custody this evening. But €2.6 million is a lot of money and I can’t see any way of avoiding a custodial sentence,” he said.
Mr Kilbride will reappear before Longford Circuit Court on Tuesday for sentencing.
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