Advertisement
News

Tralee man sentenced for financial deception

Dec 1, 2022 08:12 By radiokerrynews
Tralee man sentenced for financial deception Tralee man sentenced for financial deception
Share this article

A Tralee man has received a two and a half year sentence, suspended for two years, on charges of deception involving several financial institutions.

David Mc Mahon of Ashgrove, Ballyvelly was sentenced at Tralee Circuit Court in relation to offences from 2018 involving his company Premier Irish Golf Tours.

Prosecuting Barrister Tom Rice said that in June 2018 Mr Mc Mahon had used forged documents purporting to be from an investment company BES Management DAC to secure loans from two other financial companies, one for €100,000 and the other for €39,450.

Advertisement

Mr McMahon had been in discussions with BES Management DAC in an attempt to secure an investment of €600,000 for his company Premier Irish Golf Tours.

However he was aware from May 2018 that this investment was not proceeding.

Evidence was given that Mr Mc Mahon was also involved in a practice called kiting in which he took advantage of a facility that had been extended to him by his bank in relation to his personal account to draw down money in relation to a cheque for €40,000 from an almost empty account.

Advertisement

Mr Mc Mahon left the jurisdiction shortly afterwards and Detective Sergeant Ernie Henderson gave evidence that he was placed on a flight watch list and arrested at Dublin Airport earlier this summer.

Barrister Katie O Connell, representing Mr Mc Mahon asked for leniency for her client saying that he had pleaded guilty at the earliest opportunity at a District Court setting.

She said that Premier Irish Golf Tours had operated successfully from 2014 but began to run into difficulties in 2018.

Advertisement

She said that her client was remorseful, ashamed and apologetic.

Ms O Connell said that the offences took place over a 6 week period and reports from a doctor and counsellor Mr McMahon attended at that time showed he felt his life was unravelling, he was suffering from anxiety and depression, and was focused on saving his business and paying clients.

Detective Sergeant Henderson confirmed that there had been little personal financial gain to Mr Mc Mahon other than the cost of his flights abroad for him and his partner.

Advertisement

Ms O Connell said other money was used to continue to attempt to pay golf courses and hotels and that Mr Mc Mahon had also accessed €20,000 from a loan shark type of person and was under pressure to repay this.

She said that he hung his head in shame when walking in Tralee and was unlikely to work again.

Judge Elva Duffy said that Mr Mc Mahon has used his financial knowledge to abuse a trusted position in the full knowledge the investment had been refused.

Advertisement

However she took into account his early guilty plea and the medical evidence given of his state of mind at the time. She sentenced Mr Mc Mahon to two and a half years, suspended fully for 2 years on the ground of good behaviour during that time.

 

Share this article
Advertisement

RadioKerry Newsletter

Sign up now to keep up to date with the latest news.

Processing your request...

You are subscribed now! please check your email to confirm your subscription.