Tralee Circuit Court has heard a woman allowed her bank account to be used to launder over €40,000, because she was trying to secure a loan.
The funds ended up in her account from a motor dealership employee in Dublin, who was of the genuine belief they were making a payment to the Volvo company.
The court heard she is what’s known as a money mule, but actively took part in withdrawing the money from her account once it arrived.
47-year-old Nada Gyngova, of Killeen Woods, Tralee, was in need of a loan of €1,000, and identified individuals she thought could provide her with the loan.
These individuals told her that to receive the loan, she would have to hand over her bank details and ATM card, which she did.
In September 2018, a motor dealership in Dublin received a fraudulent email, purporting to be from Volvo about the appointment of a new director.
Another fraudulent email followed this, directing the motor dealership to make a payment to a new bank account, which an employee of the dealership made, in the belief it was genuine.
The court heard the emails were very convincing, showing the sophisticated nature of the scheme, described in court by Sergeant Nigel Shevlin as a classic case of invoice redirect fraud.
The money paid by the dealership went into the account of Ms Gyngova, but gardaí accept she was not involved in the invoice redirect fraud aspect.
After the money entered her account, Ms Gyngova made withdrawals in pounds sterling from Killarney and Kilcummin post offices, amounting to just under €5,000; Sgt Shevlin said she thought she had to do this to get the loan.
The court heard the rest of the money was moved out of her account within two days, both through ATM withdrawals in Cork and through internet banking.
The court was told the people who recruited Ms Gyngova were in sole control of her internet banking at that point, nor was she involved in the withdrawals in Cork, which were made by people who could not be identified.
Ms Gyngova initially denied she was aware of the fraudulent activity at all, but made admissions when shown CCTV of her withdrawing money in Killarney and Kilcummin.
She pleaded guilty to one count of money laundering, with her barrister Richard Liston agreeing she was reckless as to whether the money was the proceeds of criminal conduct.
Mr Liston submitted she was naïve, and was taken advantage of by a local herder when she was down on her luck, but she’s now apologetic for what was an unwise and reckless act by an otherwise unblemished character.
The court heard Ms Gyngova did not benefit financially from the fraudulent activity, and that she’s been in Ireland since 2006 with no previous convictions.
She is due to be sentenced at a later date.
