Former international rugby player, Brendan Mullin has been jailed for three years after stealing more than €570,000 from Bank of Ireland Private Bank.
The jury returned guilty verdicts in 12 of the 14 charges before the court on Monday after nearly seven hours of deliberating. Mullin made no visible reaction when the verdicts were handed down.
Mullin had pleaded not guilty to stealing the money from 2011 and 2013 when he was the bank’s chief executive officer.
The trial heard that Mullin stole €500,000, an equivalent of £417,193 from the Bank of Ireland amidst a communication breakdown within the arms of the banking group, with the money being transferred to Spice Holdings.
The company, which is registered in the British Virgin Islands, was a client that Mullin had brought into the bank, the court heard.
READ ALSO: Ramaphosa escapes prosecution from cash scandal charge
The trial heard allegations that Mullin arranged for money to be paid by the bank to McCann Fitzgerald solicitors, Beechwood accountants, and Grant Thornton for work that was done for him personally or his firm, Quantum Investment Strategies.
The judge said Mullin was in “a position of trust and a position of power” when he stole from the bank.
The judge noted no motive was advanced by Mullin, but he could only infer Mullin was “somewhat desperate for funds and embarked on this endeavour to obtain money.”
The judge took a number of mitigating factors into account, including that Bank of Ireland Private Bank was fully repaid the funds and not at a loss.
He also noted that there was a significant delay in bringing the case.
The judge said he was “remorseful and sorry” for his actions.
However, the judge said a custodial sentence was inevitable as he handed down a jail term of three years.
The trial judge directed the jury to return a not guilty verdict on a further count of deception alleging Mullin induced two bank workers to sign a payment authorisation letter.
Credible News.ng
