Killarney man charged with possessing currencies worth over €93,000 receives bail

A Killarney man charged with possessing currencies worth over €93,000 has received bail.

Thomas Coffey of 192 Ballyspillane, Killarney appeared in Tralee District Court, facing a single charge under the Money Laundering and Terrorist Financing Act 2010.

The Criminal Assets Bureau had objected to the accused receiving bail.

The Garda Press Office says that in November 2017, a major search operation was conducted by CAB, assisted by uniformed members of An Garda Síochána, where a total of 19 residential and business premises were searched.  

During the course of that search, a large number of items relating to money laundering offences were seized.

58-year-old Thomas Coffey is denying a single offence, which allegedly took place on the 21st November 2017 at 192 Ballyspillane, Killarney.

It’s alleged that he engaged in converting/transferring/handling/acquiring/possessing/or using property that was the proceeds of criminal conduct while knowing, believing or being reckless as to whether or not the property was the proceeds of criminal conduct.

The property in question is €87,850 and £5,610 Sterling in cash.

The Criminal Assets Bureau objected to Mr Coffey’s bail application on two grounds: firstly, in relation to the coronavirus crisis, his potential contact with people would be reduced were he to remain in custody.

Secondly, CAB said the accused is known to travel to Europe.

In mitigation, solicitor Padraig O’Connell said his client would agree to all restrictions imposed by the court.

Judge David Waters granted bail, subject to Mr Coffey abiding by seven conditions, including signing on and remaining in the jurisdiction.

The court heard the DPP has directed a trial on indictment, meaning it’s due to go before a judge and jury.

Mr Coffey is due to reappear in Tralee District Court on May 6th, when it’s expected the book of evidence will be served.