Letterkenny man to be sentenced for money laundering charges

A Letterkenny man who accrued a drug debt after becoming involved in a 'party lifestyle' will be sentenced week for money laundering charges.

Eoin McBrearty, of Gleann Eadan, Letterkenny, pleaded guilty to three counts of money laundering and a further count of laundering money which was the proceeds of criminal activity.

The 24-year-old appeared before Judge John Aylmer at Letterkenny Circuit Court.

McBrearty was charged with being engaged in converting, transferring, handling, acquiring, possessing or using the proceeds of criminal conduct, laundering €10,000, or thereabouts, credited to a Bank of Ireland account, while knowing that or being reckless as to whether or not the property was the proceeds of criminal conduct.

He was also charged with similar offences of €500 being credited to An Post and a further €429.50 credited to an AIB bank account.

McBrearty was also charged with laundering money which were from the proceeds of the sale of illegal drugs.

In March, 2019, the financial crime unit of Bank of Ireland made Gardai aware of alleged fraudulent activity on McBrearty's account.

Incoming funds of €10,000 were received to the account in November, 2018.

When the bank attempted to recover the funds, they were already transferred to another account.

In November, 2020, documents including bak statements and McBrearty's passport were handed over to Gardai.

When interviewed at Letterkenny Garda Station following his arrest in May, 2021, McBrearty told investigators that he was 'young and dumb'.

McBrearty said he handed over his account information to an unidentified male and had no idea when money was coming in or going out.

McBrearty told Gardai that he owed money to someone for drugs. He said he took what he could to pay off his debt.

McBrearty was working in retail at the time. When quizzed about the amount of money, €8,924.71, in his account, which was out of proportion with his income and expenditure, he said the funds were the proceeds of drug dealing.

He said he ran up a debt of around €600 and withdrew money after handing over his card as he didn't believe he owed as much as he was told.

Barrister for McBrearty, Ms Fiona Crawford BL, said her client's account was overdrawn at the time and effectively her client gained €270.

“He was co-operative and forthcoming when interviewed,” Ms Crawford said. “He put his hands up and he was full and frank with Gardai.”

Ms Crawford said McBrearty, who has no previous convictions, was deemed as being of a low-risk of reoffending.

“He was funding a party lifestyle and his drug use escalated,” Ms Crawford said. “He outlined that he did have a drug addiction. He accrued a drug debt.

“He realised that made the matter worse because of how he dealt with the drug issue. He acknowledges the seriousness of the behaviour and has said that he was very naïve.”

Ms Crawford said McBrearty has since 'disassociated himself with negative peers', he now has a partner and is in employment.

Judge Aylmer said he would consider the reports and pass sentence on Tuesday next, January 31.