Four senior executives of Custom House Capital have been directed to appear before Dublin Circuit Criminal Court next week in relation to a conspiracy to defraud investors in the firm over a decade ago.
Between last October and January, the company’s former CEO Harry Cassidy (67) and three other executives entered pleas of guilty to charges linked to the investment fraud. The pleas could not be reported on until now due to the ongoing trial of co-accused Ciara Kelleher, the firm’s senior portfolio relationship manager.
A jury failed to reach a verdict in Ms Kelleher’s trial at Dublin Circuit Criminal Court.
Cassidy (67), John Whyte (53), the company’s former head of private clients, and Paul Lavery (47), head of finance, pleaded guilty to conspiring with others to defraud investors in and clients and customers or Custom House Capital Ltd by intentionally misleading them as to where and/or how their assets had been placed contrary to common law.
Whyte of Beechpark, Lucan, Co Dublin pleaded guilty on November 7th, 2022 and Lavery of Rafeenan, Ballynod, Co Monaghan pleaded guilty on January 13th, 2023 respectively.
John Mulholland (73) of The Foxes Colvert, Mount Juliet estate, Thomastown, Co Kilkenny a non-executive director of CHC, pleaded guilty on October 17th, 2022 to one count of neglectful discharge of the duty of a directior in relation to the commission by the company of acts of dishonesty by inducing clients to entrust funds, refrain from removing funds with the intention of making a gain for itself and causing loss to another.
All of the offences occurred within the State on dates between October 1st, 2008 and July 15th, 2011.
Judge Orla Crowe adjourned the case and directed that the four defendants should appear in court on the next date, March 8th.