Four senior executives of Custom House Capital are due to be sentenced at Dublin Circuit Criminal Court next month in relation to a conspiracy to defraud investors in the firm over a decade ago.
The company’s former CEO Harry Cassidy (67), John Whyte (53), 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 of Custom House Capital Ltd by intentionally misleading them as to where and/or how their assets had been placed contrary to common law.
John Mulholland (73) of The Foxes Colvert, Mount Juliet estate, Thomastown, Co Kilkenny, a non-executive director of CHC, pleaded guilty to one count of neglectful discharge of the duty of a director 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.
Cassidy of Clon Brugh, Aitkens Village, Stepaside, Dublin, Whyte of Beechpark, Lucan, Dublin, Lavery of Rafeenan, Ballynod, Co Monaghan and Mulholland are due to appear before Dublin Circuit Criminal court on April 21st for a sentencing hearing in front of Judge Orla Crowe.
The court was told on Wednesday that the hearing is expected to last one day.
Separately, Ciara Kelleher (51), the firm’s then senior portfolio relationship manager, will face a re-trial in 2025, after a jury failed to reach a verdict on the charge she faces earlier this month.
Ms Kelleher of Blackhorse Ave, Dublin 7 pleaded not guilty to one count of conspiring with others to defraud investors, clients, and customers of Custom House Capital Ltd. by intentionally misleading them as to where or how their assets had been placed in the investment firm. The offence is alleged to have happened within the State on dates between October 2008 and July 2011.
Judge Martin Nolan set a date of January 13th, 2025 for the re-trial.