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A winning GAA star from across Ireland indicted as part of a major organized crime investigation had allegedly transferred up to £ 350,000 (€ 386,000) to a bank in Dubai, a court has heard.
A lawyer for the prosecution claimed in Belfast High Court on Wednesday that the sums were transferred to an account Peter Loughran had in the United Arab Emirates before being used to purchase property in Northern Ireland.
Robin Steer argued: “It is essentially the definition of money laundering.”
The alleged financial activity was revealed when the defendant was granted bail on drug charges related to a National Crime Agency offensive targeting gangs using encrypted mobile phones.
The 45-year-old, from Tamnamore Road in Dungannon, Co Tyrone, is charged with eight crimes, including conspiracy to possess and be concerned about the supply of cocaine and herbal cannabis.
The defendant, who was part of the winning team at Tyrone All-Ireland in 2003, is also charged with importation of drugs and conspiracy to transfer and convert criminal assets, namely cash.
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The alleged crimes were committed between March and June of this year.
He was arrested as part of Operation Venetic, the UK’s largest police crackdown on organized crime.
More than 20 people face prosecution in Northern Ireland, including up to eight other defendants who have already been released from custody.
While Mr Loughran filed a new application for bail, the court heard that the police had identified up to £ 350,000 allegedly going to his bank account in Dubai.
Judge Huddleston was told that it was later used to purchase property in Northern Ireland.
According to the defense attorney, the new information has confirmed that those sums are no longer available to his client, ending any concerns that he may use them to support him if he is released.
Interfere
“Now we know the money was spent,” said Michael Chambers.
“Applicant has zero balance in UAE account, cannot interfere with any money.”
But Steer argued that Mr. Loughran should be treated differently from others identified in the investigation.
“We have no evidence in other cases that these large sums move in this complex network that involves other countries,” he said.
Comparing Loughran’s salary to the level of alleged bank deposits, the prosecutor argued, “It just doesn’t add up.”
However, bail was granted on the condition that the defendant’s family members provided a cash bail of £ 30,000 (€ 33,000).
Judge Huddleston also imposed a curfew, ordered the defendant to surrender any passports and prohibited him from leaving Northern Ireland.
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