A former Longford hotelier and local politician is facing a significant jail sentence over multi million euro money laundering charges. Frank Kilbride of Aughakilmore, Ballinalee officially plead guilty to three charges under money laundering legislation at Longford Circuit Court in January.
The 70 year appeared before Judge Kenneth Connolly at Longford Circuit Court yesterday for sentencing, with the court hearing detailed evidence from Detective Garda Rona Bohan of Cavan Garda Station. The charges state Mr Kilbride, on various dates between 2017 and 2019, engaged in converting, transferring, handling, acquiring and possessing property that was the proceeds of criminal conduct to the approximate amount of €2.6 million.
A detailed Garda investigation, which was highly praised by Judge Connolly, found that three local bank accounts were used over 2 years to receive and distribute funds of criminal proceeds. According to Garda evidence, the money was funneled through a company called TJO Developments which was set up by Mr Kilbride before the period in which the money laundering took place.
He stated that in early 2017, he was approached by a third party to sell the company and did so for the sum of €3,000. In evidence given to Gardaí during their investigation, Mr Kilbride said that after the sale he became aware that his name was still connected to the company and that money was moving through it.
He informed Gardaí that after he contacted the third party who had bought the company of this, a dark blue Mercedes car arrived at his home with three individuals, one of who was Cyril McGuinness, also known as Dublin Jimmy a well known figure in organised crime. He claimed he was told to leave everything as it was and that there was €100 left in the company account and he could keep that for medical expenses, which he told Gardaí, he considered a threat.
The 70 year old was arrested on the 5th of November 2022 and later plead guilty to using two business accounts and his own personnel account to receive and distribute funds to several companies in Ireland, the UK and Europe, several of whom were connected to Dublin Jimmy.
Money would be transferred or lodged to the accounts of TJO Developments before being withdrawn via ATM or transferred out. The three accounts saw a total of €2,604,564.05 move through them between October 2017 and March 2019.
Letters from the accused and his wife were presented to Judge Connolly two weeks ago, alleging that Mr Kilbride unwittingly entered into the agreement and was the subject of intimidation during the process. This was not accepted by Garda Rhona Bohan, With Judge Connolly stating he could not be told mitigating information as part of the plea that was not used in defense.
Consul for the Defence stated that a physiological report conducted on the accused indicated he suffered from PTSD, depression and insomnia, and urged to Judge to consider his advanced age when it comes to prison time.The Judge remanded Frank Kilbride in Custody over the weekend stating that he did not want to give the accused the false hope that he avoid a custodial sentence.
Judge Connolly stated that while he was taking the weekend to read further reports from the defense so as to 'not shoot from the hip' when it came to sentencing, he was firmly of a view that a significant custodial sentence was warranted.
Mr Kilbride will return before the court on Tuesday for the final sentence. ]
