Man accused of money laundering after over €100,000 found in secret compartment under stairs – The Irish Times

A Dublin grandfather on disability benefits has been accused of money laundering for having ‘secret’ more than €100,000 in suspected crime proceeds in socks and gloves in a hidden compartment under his stairs.

Brendan Colley, 54, from Galtymore Close, Drimnagh, appeared before Judge Michele Finan at Dublin District Court on Saturday.

He was charged with an offense under Section 7 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 following a search of his home Thursday night.

Det Garda Brian O’Carroll told the court that Mr Colley was arrested, taken to Kevin Street Garda Station and made “no answer” to the charges.

The detective declined bail due to the seriousness of the case and fears Mr Colley poses a risk of absconding or would dispose of allegedly illegally obtained assets.

Det Garda O’Carroll told a contested bail hearing that Mr Colley was accused of money laundering after Gardaí searched his home.

He said: “During the search, 102,726 euros in cash were found. This was packed in 1,000 euro bundles and hidden in socks and gloves in a secret compartment under the stairs.”

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It was alleged that gardaí seized mobile phones and a “large quantity” of scales and packaging material.

The detective claimed Mr Colley was “essentially caught in the act” with a substantial sum of cash “hidden under the stairs of his home” and may be attempting to escape.

The official also expected the case to be referred to the Circuit Court, which has broader judgment powers.

He said the defendant resides and has a partner in Spain and could dispose of allegedly illegally obtained property if released on bail.

When questioned by defense attorney Danica Kinane, he agreed that the defendant had lived his entire life at his family home in Drimnagh and accepted that it would be a long time before the case was resolved.

The judge determined that family members were on trial and one offered to stand bail.

Ms Kinane has pleaded bail, arguing that her client has ties to that jurisdiction and is being treated for health problems.

She argued that the judge could impose conditions on her client who did not go to court.

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He has not yet announced a plea.

Judge Finan ruled that the court could grant bail under “strict conditions”. He was ordered to deposit €1,000, surrender his passport and provide a new contact phone number. An independent guarantee was set at €10,000.

Judge Finan remanded him and agreed bail to appear in Cloverhill District Court on Tuesday. Once admitted, he will not be allowed to leave Dublin, travel to Dublin Airport or apply for duplicate travel documents.

He must register at a Garda station three times a week and be available 24 hours a day.

Legal aid was granted after the judge found he had received a disability payment.