Latest news with #Revolut
Irish Daily Mirror
6 hours ago
- Irish Daily Mirror
Youth took money off man, threatened to kill him and then went to his bedroom
A teenager has been given two years detention for the false imprisonment of another young man. Dublin Circuit Criminal Court heard that the 17-year-old, who cannot be named for legal reasons, pleaded guilty to false imprisonment with other counts to be taken into consideration at a location in Dublin on June 15, 2023. He was aged 15 at the time of the offending and had ten previous convictions from the Children's Court, including seven convictions for theft, one for attempted robbery, one for assault causing harm and one for production of a knife. He was also on bail at the time of this offending. Detective Garda John Hayes from Blanchardstown Garda Station told Stephen Montgomery BL, prosecuting, that a young man then aged 19 was travelling on a bus in the Clonsilla area of Dublin in May 2023. Neither the accused or the victim were known to the other. The detective told the court that the accused was larger in stature than the injured party. When the victim got off the bus, he was followed by the teenager, who started a conversation with him and broke his glasses. The accused then ordered the injured party to walk to a nearby shop and instructed him to withdraw €50 from an ATM. The teenager then threatened the victim to keep this a 'secret'. The court heard that a week later, the victim was on the bus again, and the teenager sat behind him and put his hands around his neck and told him to be quiet. They got off the bus together, and the teenager took the victim's iPhone 13, worth € 1,300. The teenager then added the victim as a friend on Snapchat. Det Gda Hayes told the court that the victim received a message on June 15, 2023, from the teenager, who told him to meet him with his bank card, which he did. The teenager brought the victim to an apartment where he produced two knives and told the victim he was going to kill him and slice him. The Irish Mirror's Crime Writers Michael O'Toole and Paul Healy are writing a new weekly newsletter called Crime Ireland. Click here to sign up and get it delivered to your inbox every week He also instructed the victim to remove his clothing, as he would have to burn it. The injured party did not take his clothes off, but his backpack was searched, and his driver's licence with his address on it was taken. The court heard that the victim was then brought to his own home by the teenager, who disposed of one of the knives en route. While in the injured party's house, the teenager threatened to harm the family dog if he didn't 'put it out of the way'. The teenager searched the victim's bedroom and took a Nike tracksuit, an Under Armour top, Nike runners, a PlayStation, and a camel jacket, all with a total value of € 1,751. The teenager then made the victim transfer €500 from his Revolut account to one of the injured party's friends' accounts, as he did not have a Revolut bank card. He told his friend to meet him in a local shopping centre, and the defendant, the victim and the victim's friend went to multiple ATM's while withdrawing €460 in total. The teenager then left with the cash and the items taken earlier from the victim's house. Later that evening, the victim told his mother and showed her the knife left behind by the teenager. They went to the gardai, and the victim showed them the apartment he had been taken to. CCTV footage from the shopping centre and footage from the Ring doorbell of the victim's home were obtained, and the defendant was identified. He was interviewed on two occasions. None of the money or belongings were recovered. A victim impact statement was submitted to the court and read by the prosecuting counsel. It outlined how the victim quit his job in case the teenager came back. He was also afraid that the defendant would come back to his home and described that he was in 'fear for his parents'. He said he was always 'looking over his shoulder' and said he 'can never relax on public transport'. He still has trouble sleeping. Padraig Dwyer SC, defending, said his client was forthright with the Probation Services and is apologetic, showing empathy towards the victim in his case. He stated that his client has taken responsibility for his actions and told the probation officer that he deserves a prison sentence. Counsel said his client was 15 at the time of the offending. He said that his client's parents do not condone this behaviour and are very pro-social people. He said his client 'self-reports that he has used cannabis but is now self-reporting that he is clear at present. He said his client is expressing regret for his actions. On Thursday, Judge Martina Baxter noted the defendant had two knives with him and the 'brazenness' of going to the victim's home. 'It wasn't as if it was a once-off situation, the judge said. It was clear that the 'fear and threat' was 'pervasive and real,' said the judge. Judge Baxter said she had to have regard for his previous convictions. She said the victim was bullied and traumatised 'while going about his business'. She said a significant factor was that the accused was 15 at the time but noted he was 'back in adverse company'. 'Clearly there has to be an intervention,' said Judge Baxter. She said the aggravating factors were the effects on the victim who is 'constantly in fear', the threats and the menace. In mitigation she took account of his age and that the Children's Act states detention is 'the last resort'. Judge Baxter imposed two years detention on him. Subscribe to our newsletter for the latest news from the Irish Mirror direct to your inbox: Sign up here.
Yahoo
9 hours ago
- Business
- Yahoo
Revolut mulling US bank acquisition to accelerate licencing process
Revolut is reportedly considering the purchase of a US banking institution as part of its strategy to rapidly obtain an American banking licence, while it continues to await similar approval in the UK. The fintech is exploring the acquisition of a nationally chartered bank, which would enable it to offer lending services in the US, reported Financial Times citing sources familiar with the situation According to these sources, acquiring an existing bank would facilitate a quicker expansion into the US market compared to applying for a banking charter independently. The company is looking at targeting a cost-effective bank that already possesses a national licence, the report said. While no definitive decision has been made regarding the acquisition of a US bank, Revolut is also considering the option of applying for a banking licence on its own, as indicated by another source. The perception that the Office of the Comptroller of the Currency, the US banking regulator, would expedite the bank charter process under the deregulatory agenda of President Donald Trump, has influenced this consideration. Revolut, which boasts a global customer base of 60 million, is also in discussions for a $1bn funding deal that would elevate its valuation to approximately $65bn. Additionally, the fintech has explored the possibility of acquiring a bank in the Middle East as part of its global strategy. Founded in 2015, Revolut recently acquired Argentine bank Cetelem from BNP Paribas. The company currently holds banking licences in Lithuania, enabling it to operate across the EU, as well as in Mexico. Revolut has yet to receive full authorisation to function as a comprehensive bank in the UK. After a lengthy three-year application process, its banking licence was approved last year, albeit with certain restrictions until it meets specific regulatory conditions. A year later, the company still faces limitations on its lending capabilities within the UK. The approval of its licence initiated a "mobilisation" phase, during which Revolut's banking division is permitted to accept deposits of only £50,000 while it develops its IT infrastructure, risk management, compliance systems, and other essential operations. The Bank of England's Prudential Regulation Authority has indicated that the mobilisation phase for newly licenced banks "cannot continue indefinitely and should take no longer than 12 months," a timeframe that Revolut surpassed last week. "Revolut mulling US bank acquisition to accelerate licencing process – report" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Irish Independent
14 hours ago
- Irish Independent
Women who laundered money for Louth criminal gang avoid jail
Jade Heeney (27), Castlemanor, Ballymakenny, Drogheda; Annie Julia Smith (28), Candy Lodge, Stamullen Road, Gormanston and Marlena Aleksandrowicz (29), Bridgefield Northwood, Santry, Dublin 9 Cedar Place, Swords; each admitted one count of money laundering through their respective Revolut accounts which they allowed the gang to use. The defendants were described as at the lower scale of a money laundering enterprise for the Boylan Organised Crime Group. None of them profited from it. They had no previous convictions. Keith Boylan was named in court last June as the alleged head of the Boylan OCG and his brother Josh as the alleged second in command. Jade Heeney is the former partner of Keith Boylan, while Annie Julia Smith is the former partner of Josh Boylan. Marlena Aleksandrowicz was a friend of Keith Boylan's girlfriend. Judge Dara Hayes said it was accepted by gardaí that the defendants were at the lower rung of the money laundering enterprise. However, they provided significant assistance to launder the gang's proceeds. They were not naive women. Each knew who they were involved with and the type of criminality they engaged in. Judge Hayes continued that fear of the criminals in question played a role. The three women 'got in over their heads'. They were each involved in serious criminality, albeit at the lower end of that serious criminality. The amounts of money were relatively small. The judge said that the defendants had people who thought well of them. It appeared what happened was an aberration. The court heard previously that as part of an investigation into the gang's activities a large amount of bank and other accounts were probed and each of the three accused were identified as money laundering the proceeds on behalf of the OCG. Between July 10, 2020 and February 27, 2021, €16,348 went into Marlena Aleksandrowicz's Revolut account from associates of the OCG and €14,950 was withdrawn. Gda John Walsh said that between December 20, 2020 and January 31, 2021, €13,033 was transferred by members of the OCG to Jade Heeney's Revolut account and €12,551.37 withdrawn. For approximately four years she had been the partner of Keith Boylan. The relationship had ended by the time of this offending. She had been given €1,000 to put into the account after being directed to download the app and to hand over the card to a person unknown to her. Evidence was given that between June 17, 2020 and June 3, 2021, associates of the OCG put €8,967.50 into Annie Julia Smith's Revolut account and withdrew €5,080. She was the former partner of Josh Boylan between 2018 and December 2020. The relationship ended on bad terms. Funded by the Courts Reporting Scheme
Telegraph
16 hours ago
- Business
- Telegraph
Andrew Bailey rests between us and reckless Reeves
The Chancellor and the governor of the Bank of England have had several disagreements over the past year. But their latest bust-up has crossed the line into intervention. Andrew Bailey shut down a meeting that Rachel Reeves had attempted to procure between the Treasury, the Bank's Prudential Regulation Authority and burgeoning challenger bank, Revolut, to try to hurry the authorisation of its banking licence. People familiar with the matter said the move to cancel the meeting was made over concerns the Bank's regulation should be independent from political interventions. They are absolutely correct, and this flagrant attempt from Reeves to force her 'growth at all costs' agenda at the expense of independence should be admonished. Despite its relative novelty, central bank independence is sacrosanct to the Western world. Even Donald Trump, who has persistently shown disregard for financial markets, has so far been forced to renege on his various attempts to replace the Federal Reserve chair, Jerome 'Mr Too Late' Powell, for fear of bond vigilante retribution. Here in the UK, it was Gordon Brown who finally brought about operational independence for the Bank of England, a policy that arrived surprisingly late in 1997. Ever since, it has been one of the few sacred cows of British politics, with parliamentarians of all stripes understanding the value of a credibly independent central bank. Given the policy's architect, it is all the more surprising that it is Rachel Reeves, who famously had a framed picture of Brown in her university bedroom, launching so many skirmishes against her former employer. I've written recently on Reeves's susceptibility to promises of growth, but this latest personal attempt to strong-arm the regulator into rushing its processes is a worrying step. This has nothing to do with my opinion on Revolut, but it is not a good look for the Chancellor to be seen to be effectively lobbying on the behalf of a private business. It will likely wind up an embarrassing and futile moment for Reeves, who has clearly made the move in a last-ditch effort to get Revolut to pick London when it eventually lists on a stock exchange. The bank has already expressed its preference to list in the US, with its co-founder expressing that he did not 'see the point' of listing in London. The news comes the same month that Bailey told the Treasury Select Committee in no uncertain terms that he disagreed with Reeves's assertion that regulation is 'the boot on the neck' of business. The FT reported his opinion was a touch stronger away from the cameras, with a colleague of his saying he was 'really p----d off' over the comments. There is certainly room for reforming the regulatory landscape in this country, but Reeves seems to be taking the Elon Musk approach of pulling out plugs and hoping it doesn't break. Bailey is not without his faults, but currently he seems to be the only person who remembers why we put some of this regulation in place to begin with. Another example is the huge clamour from the major UK banks to do away with ring-fencing, the regime that separates their retail operations from their investment banks. Reeves seems once again to have listened to whatever the City says it wants, and is open to such a move. But this regulation was imposed with good reason after the global financial crisis and should not be trifled with lightly. There may well be elements that can be improved, or even cause to scrap it, but this should be investigated from a more sensible standpoint than 'any regulation stifles growth'. I don't envy Reeves. The country has stagnated since 2010, and has been hit with several once-in-a-generation events. At each attempt to cut spending, she has been forced into a climbdown by a fearful Sir Keir Starmer, which has forced her hand into looking for a way to improve the nation's lot elsewhere. But while Starmer has been wrong to stand in her way on many occasions, Bailey is proving to be a rare voice of reason. Yes, Britain is stagnating and has been for a long time. We need to spur growth in this country, and regulations from planning to finance need to be tweaked. But tearing down the guardrails because nobody's fallen off the edge since you put them up isn't a plan for growth – it's a recipe for disaster.
News18
20 hours ago
- Automotive
- News18
Audi F1 Team To Partner With Revoult In Debut 2026 Campaign
Last Updated: Audi seeks to enhance fan engagement during race weekends by offering unique experiences and exclusive benefits for customers of new headline sponsors, fintech giants Revolut. German manufacturer Audi, who are set for a F1 debut in the year 2026 following heir takeover of Stake Sauber F1 Team, ae set to take on fintech giants Revoult as title sponsors starting next season. Audi seeks to enhance fan engagement during race weekends by offering unique experiences for a new generation of motorsport enthusiasts along with exclusive benefits for customers of new headline sponsors, fintech giants Revolut. Audi AG CEO and Chairman of the Board of Sauber Motorsport AG, Gernot Dollner, said, 'Audi is entering Formula 1 with a clear ambition: to use the platform as a technologically relevant and economically sustainable investment in the future of the Audi brand." 'We firmly believe in the success of our project, which we are approaching with a realistic attitude and a mindset of continuous improvement. In Revolut, we have found a partner that shares our ambitions and attitude," he added. 'Formula 1 is a global stage that offers us the opportunity to reach new target groups together and generate enthusiasm for our products," Dollner said. The Sauber F1 team is set to transition into the Audi F1 team in 2026, following investment from the Qatar Investment Authority, which acquired a minority stake in Sauber. The QIA purchased a 30% stake in Sauber, providing capital to the team as they prepare for the transition to Audi, which announced their plan to enter Formula 1 in 2022 as an engine manufacturer and partner with Sauber. Nico Hulkenberg and Gabriel Bortoleto, who joined Sauber on multi-year deals, are expected to be Audi's first drivers in the 2026 campaign. Additionally, Sauber has opened a new UK Technology Centre in line with the transformation into the Audi F1 team. 'This is a monumental partnership for Revolut and the Future Audi F1 Team. We're accelerating towards 100 million customers, and we'll be bringing them into Formula 1 with unforgettable experiences at a pivotal time for the sport," Revoult CEO Nik Storonsky said. 'As Revolut continues to challenge the status quo in global finance, the Future Audi F1 Team is set to do the same in motorsport. With a shared outlook, global ambition and relentless drive for progress, this partnership will define what's possible in Formula 1," he added. Team Principal of the future Audi F1 Team, Jonathan Wheatley, added, 'With Revolut, we have found a partner that shares our core ethos of innovation and relentless ambition. This is more than a brand fit; it is a strategic alliance, engineered to challenge conventions in motorsport." 'From 2026, Revolut's digital-first solutions will power key areas of our operations while also redefining how fans and communities engage with our team – delivering a seamless and engaging experience on and off the track," Wheatley said. view comments First Published: July 31, 2025, 08:48 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
