Four senior executives of investment firm to appear in court in relation to a conspiracy to defraud investors

By Eimear Dodd

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 today.

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.

Cassidy of Clon Brugh, Aitkens Village, Stepaside, entered his plea before a sitting of Dublin Circuit Criminal Court on January 17, 2023.

Whyte of Beechpark, Lucan, Co Dublin pleaded guilty  on November 7, 2022 and  Lavery of Rafeenan, Ballynod, Co Monaghan pleaded guilty on January 13, 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 17, 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 1, 2008 and July 15, 2011.

Judge Orla Crowe adjourned the case and directed that the four defendants should appear in court on the next date, March 8.