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Wednesday 27 July 2011

Probe into multi-million Anglo fraud begins

investigation into an alleged multi-million euro fraud in funds which AIB acquired from Anglo Irish Bank has been started by the Garda Bureau of Fraud Investigation.

The probe is centred on a former senior official at Anglo who is believed to have stolen about €3m from deposit accounts.

That man has since passed away, reports RTE.

The theft was discovered by AIB, after a customer tipped the bank off about something unusual in a deposit account. AIB then made the Central Bank and Gardai aware of it.

AIB has said that no customers will be financially affected by the theft.

The bank said yesterday that it has already started its own investigation to see if any fraud occurred in what it says is a small number of transactions concerning certain discrete funds.

AIB bought about €8.6m in deposit funds from Anglo in February

 

Sunday 24 July 2011

Flamboyant tycoon finances massive collection of luxury cars with £27million fraud

Life for a man jailed following a £27million fraud will be somewhat more humble after a judge ordered the confiscation of a fleet of cars, houses and Rolex watches.

Paul Cope, 46, lived the lifestyle of a Premiership footballer at his £1.3m mansion in Stafford, complete with two swimming pools and an alpaca field in 19 acres of Land.

His life of excess came crumbling down when police investigated the finance manager when it emerged he had used leasing and mortgage scams to maintain his spending.

Among his assets were a £305,000 convertible Rolls Royce, a £170,000 Ferrari and a £120,000 Lamborghini which he kept on the gravel drive to his home, Bank Barn Manor.

Despite the house being worth a whoppnig £1.3m, Cope tried to claim it was worth £4.25m when a crooked friend and surveyor, Dr Christopher Jarvis, valued it much higher than the market rate.

He went to Yorkshire Bank and re-mortgaged it for £3million in January 2008 on the back of Jarvis's quote which they had actually concocted the scam together.

Cope also lost a villa in Marbella, four other houses, several business premises and designer jewellery including two Rolex watches worth £30,000 each. He also lost a Range Rover and several Mercedes cars.

On top of that, the father-of-four will have to pay back a further £406,000 from the profits of his crimes. At an earlier hearing he was jailed for five years and four months while co-conspirator, Jarvis was imprisoned for two years.


Cope liked to show of his 'wealth' by parking his expensive cars on his gravel drive for the world to see


Hundreds of thousands of pounds in cars were seized by the courts including this Rolls Royce

Detective Constbale Mark Kelsall, of Staffordshire Police, said: 'Cope surrounded himself with all the trimmings of a luxury lifestyle using the proceeds of his serious crimes.

'Not only has Cope lost his liberty, he has now been stripped of his array of properties, high-performance cars and other items - such as expensive jewellery - that he amassed.

 

'This latest cash confiscation order is significant but represents only a portion of the property and possessions - worth millions of pounds - that have been taken from Cope as part of our extensive inquiries.'

Cope ran Kingdom Finance which was worth £3million in 2008 and employed 700 people. He told friends that he was richer than a Premiership football team and said he would live an even more excessive life than they do.

He conned lenders into paying for non-existent hospital equipment and issued false invoices to give loans on which he would then charge up to 25 per cent interest.

He bought his house in 2001 for £425,000 then extended it and bought more land before committing the fraud with Jarvis who claimed it was 'one of the best, if not the best in the Stafford area, with a standard of fittings considered to be peerless'.


This £120,000 Lamborghini was on the list of assets to go along with several homes


His £170,000 Ferrari, complete with private registration number, was taken back by the courts

He has been given six months to pay the money he now owes or another three years and nine months will be added to his sentence.

Along with Johnson, two other Stafford men, Andrew Oxlade, 54, and Brian Challiner, 61, were jailed and two were ordered to pay back £300,000.

Oxlade was ordered to serve 64 months behind bars and Challiner was handed three and a half years.

They had provided false invoices with £20million channelled through the former and £5million through the latter in 600 transactions between 2004 and 2008.

Ed Beltrami, Deputy Chief Crown Prosecutor for West Midlands Crown Prosecution Service said: 'The Proceeds of Crime Act is sending out a clear message to criminals that crime will not pay.

'We are determined to use these powers given to us to reduce crime, disrupt criminal enterprises and remove the negative role models from our society.'

A former business associate of Cope said: 'He thought he was some kind of corporate untouchable but what he built was a huge house of straw and now it's all come back to bite him on the backside.

'He always boasted of being flashier than a whole team of footballers and seemed to prove the point by showing off his fleet of motors on the driveway.

'Sometimes his home looked like the Hotel De Paris in Monte Carlo with all his flash cars parked outside but it was more a case of Monte Carlo or Bust with him.

'It was all done through massive loans and I doubt he had much of it paid off. He was the very epitome of the phrase 'all fur coat and no knickers'.'

 

Sunday 3 July 2011

Fraud-probe worker 'lost €20,000 a day betting'

The postal manager who went missing following the discovery of a €2m fraud at Gorey Post Office is believed to have been losing €20,000 a day gambling online with Paddy Power.

It is understood that Tony O'Reilly, 36, who disappeared last Wednesday on his way from his home in Carlow to his work in Gorey Post Office, has since been in contact with a family member from an internet connection in Northern Ireland.

Gardai and postal authorities are now investigating the massive fraud -- which this weekend could have risen to €2m -- and have interviewed members of staff after an internal audit discovered the "black hole" in the finances of the post office branch.

Mr O'Reilly, who lives in Carlow town, has been missing for the past four days.

Last night Paddy Power said it could not comment on individual clients: "Our relationship with our customers is private and we do not discuss individual customers. Should any of our customers have an issue with gambling, we have many measures in place to assist them."

Up to yesterday there had been no sighting of Mr O'Reilly or his car. He did not have his passport when he disappeared after telling his wife he was on the way to work.

The full extent of the alleged fraud was not determined until Friday after post office chiefs were alerted to financial irregularities.

Gardai called in the assistance of the garda fraud squad as they stepped up their inquiries into the disappearance of the cash.

Gardai are anxious to interview all of the staff in the post office, including Mr O'Reilly.

Mr O'Reilly left his home at 6.30am to drive to the post office in Gorey. His wife Lorraine (nee O'Grady), a native of Skeaghvonsteen, Graignamanagh, Co Kilkenny, became concerned when she received a text message from his work mobile stating that he had been involved in a car crash near Tullow while on his way to work.

Mrs O'Reilly helped gardai in Gorey garda station with their inquiries throughout Friday before returning home. Later she went to her parents' home in Skeaghvonsteen for fear of media attention after news of her husband's disappearance became public.

It is also understood that gardai are examining the content of the text message to his wife which was not the usual English grammar he used when texting home.

Internal auditors were present in Gorey Post Office throughout last Wednesday and it's believed they also received a text message from Mr O'Reilly stating that he had crashed in Tullow.

A garda source said yesterday that all CCTV footage along the route from Carlow to Gorey was being examined by them in a bid to piece together his movements. Of the tapes examined so far, his car has not been spotted.

Officers are examining phone records and it is understood a text message sent from his work mobile was last picked up from a telecommunications mast in Gorey on Wednesday morning.

There has been no contact from him since then and his Volkswagen Golf car has not been located.

After it was established that he had not turned up at work that morning, gardai at Gorey and Carlow were notified. Officers were initially concerned that Mr O'Reilly might have been abducted as part of a tiger kidnap by a crime gang targeting a ransom in the post office.

Mr O'Reilly, the father of a 10-month-old daughter, normally carried two mobile phones but neither has been in use since then. There have been no recent transactions in his bank accounts.

Gardai said his disappearance is being treated at this stage as a missing person case but acknowledged they would be anxious to speak to him along with all the other staff at the post office as their inquiries progressed into fraud.

Members of Mr O'Reilly's family and dozens of friends and acquaintances have been searching the mountains in Wicklow and also checking side roads on the route between Carlow town and Gorey over the past three days in a bid to establish some clues as to his whereabouts.

A full inquiry has now been initiated by An Post's internal investigation unit and will be carried out in parallel with the garda investigation.

 

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