Man jailed after he was found with over €230k and five Rolex watches

By Eimear Dodd

A man found in possession of over €230,000 in cash and five Rolex watches has been jailed for three years.

Dublin Circuit Criminal Court heard that gardai searched the home address of Karl Finnegan (41) on September 16 last.

During the search, they found €15,050 in cash and three Rolex in a wardrobe in an upstairs bedroom.

Two more Rolex watches and €215,000 in bundles of €10,000 were discovered in a storage area under the stairs.

The five Rolex watches were sent to the UK for expert analysis, and have a combined value of around £89,000 Sterling.

Two of the watches have approximate values of £37,800 and £26,000 Sterling respectively, while no valuation could be obtained for another watch as it had an invalid serial number.

Finnegan of Mac Uilliam Heights, Tallaght, Dublin 24 pleaded guilty to the possession of the proceeds of crime at his home address on September 16 last.

He has been in custody since his arrest and has three previous convictions for minor road traffic offences.

Garda Joseph Melvin told Caroline Latham BL, prosecuting, that Finnegan was present when gardai arrived to execute the search warrant.

When shown the money found upstairs, Finnegan told gardai under caution that this was from his work and savings.

Ms Latham told the court that the prosecution case is that the cash found upstairs is also the proceeds of crime.

The court heard that the total amount of cash found in the house was €230,860.

Following his arrest, Finnegan was interviewed six times. In a prepared statement, Finnegan said he was aware of the cash and had acted recklessly by agreeing to hold the items.

He outlined that he had had a heroin addiction, but got clean in his late 20s.

Finnegan said he later  relapsed into cannabis and cocaine use, and built up a €20,000 drugs debt.

He told gardai he was under pressure and under threat.

Finnegan said the cash upstairs was his and that he bought two of the lower value watches found upstairs, intending to sell them on.

The court was told gardai were unable to confirm this.

Evidence was also heard that the Garda National Economic Crime Bureau examined Finnegan’s finances and found no trappings of wealth.

Gda Melvin said gardai believe Finnegan was aware of the value of what he was holding and suspected it was the proceeds of crime.

He added that Finnegan would have played a “major role” in assisting individuals involved in organised crime.

Imposing sentence yesterday, Judge Elma Sheahan said Finnegan was an “important cog” , noting that those who obtain money from criminal activity are “in serious need of somewhere to store” it.

She said the amount of cash found and the seriousness of the offending were aggravating factors.

Having considered the mitigation, Judge Sheahan imposed a four-year prison sentence backdated to when he went into custody last September.

The judge suspended the final 12 months of the sentence to encourage Finnegan’s further rehabilitation.

She directed Finnegan to place himself under the supervision of the Probation Service for 12 months post-release, to remain drug-free, to take part in random drug-testing and to engage with any drug treatment programme, as appropriate.

Gda Melvin agreed with Pieter Le Vert BL, defending, that his client was co-operative and made admissions, both during the search and when interviewed, but did not give any names.

It was further accepted that Finnegan was apologetic, told gardai he was scared and concerned for his family.

It was also agreed that the three watches found upstairs were second-hand and have a lower value than the other two.

Gda Melvin added that gardai believe these items and the cash upstairs are part of the proceeds of crime.

The garda also agreed that Finnegan told them his car had been burnt out several months prior to this incident and that he had no trappings of wealth.

Gda Melvin confirmed he was aware of Finnegan’s family background and that he is a carer for one of his sons.

Mr Le Vert outlined his client’s background and family circumstances. Finnegan has a long work history, but more recently has been a carer for one of his sons.

Testimonials, a letter from Finnegan and other documents were handed to the court. Finnegan has five children.

Counsel said his client developed a drug addiction in his teens, but got clean in his late 20s before later relapsing.

He said Finnegan fell into debt and his car was burnt out in a “specific warning” and that Finnegan was “told next time it would be the house”.

Counsel said his client is remorseful and feels guilty about the effect of his conviction on his family.

Mr Le Vert noted that after Finnegan told his family what had happened, they were able to obtain the money to pay off his drugs debt. Counsel said his client is aware things could have been different, if he’d gone to his family in the first place.

Finnegan has been in custody since his arrest, is an enhanced prisoner and on a waiting list to see the drugs counsellor. He had also engaged with addiction services in the weeks before his arrest.

Mr Le Vert said his client is aware that his explanation for the €15,000 cash and three watches found upstairs cannot be confirmed by gardai and accepts the reality of his situation.