Cobh man to be sentenced for laundering €672k and owning a house boat from proceeds of crime
A Cobh man who was caught in Dublin laundering the proceeds of criminal conduct totalling €672,000 in cash and having an €86,000 house boat on the river at East Ferry in Cork will be sentenced on June 24.
39-year-old Gerard Hayes with an address at College Lawn, College Manor, Cobh, County Cork, had the case against him listed at Cork Circuit Criminal Court on Thursday. Judge Helen Boyle adjourned the case for sentencing of the accused at a later date.
The defendant pleaded guilty to charges including the possession of cocaine for sale or supply and possession of large quantities of ammunition and silencers for firearms. He also admitted at Cork Circuit Criminal Court to charges related to drugs and money-laundering.
The most serious charge states that on February 20, 2024, at Mespil Road, Dublin 4, he did engage in converting/transferring/handling/acquiring/possessing/using property that was the proceeds of criminal conduct, namely cash to the value of €672,000 while knowing or believing or being reckless as to whether or not the said property was the proceeds of crime, contrary to the Criminal Justice (Money Laundering & Terrorist Financing) Act 2010.
Defence senior counsel Elizabeth O'Connell previously applied for a probation report and a prison governor's report in advance of sentencing.
'There is a recent addiction issue and there has been engagement with addiction services. The case involved a considerable amount of cash. I believe it (probation report) would be of assistance,' Ms O'Connell said. Judge Boyle acceded to the application and remanded the accused in custody for sentencing.
As well as the Mespil Road money-laundering charge there was a charge on the same date related to his home in Cobh involving €10,050. A third money-laundering charge related to €450 at Ballynoe, Cobh, on May 5, 2024.
On May 5 also he had cocaine for sale or supply at Ballynoe and permitted the possession of cocaine in his car.
Another money-laundering charge was admitted by Mr Hayes in respect of €62,800 in cash at Ballydaniel, Ballymore, Cobh, on February 10 last year. He also admitted counts related to cocaine dealing.
There were also multiple counts related to ammunition and silencers for firearms.
Finally, on February 12, 2024, at Ballynacorra River, East Ferry, Midleton, he admitted possession of proceeds of criminal conduct in the form of a boat, including contents and engine, with a value of €86,000.
An outline of the facts of the case that gave rise to the total of 23 charges will be given by the investigating member of An Garda Síochána at the sentencing hearing.
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