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A UCD economics student has been charged in connection with a 1.4 million euro money laundering investigation.
Cheng Yu, 25, was charged with four crimes under the Criminal Justice Law (Money Laundering and Terrorism Financing Law).
She is from China but has been living in Ireland for the past two years and has an address at Roebuck Castle, Clonskeagh, Dublin 14,
He is accused of laundering sums worth € 137,090, from September 11 to November 2 of this year in two Bank of Ireland accounts in Dublin.
Det Garda Tom Victory told Judge Bryan Smyth in Dublin District Court that these were sample charges in connection with the 1.4 million euro housing investigation.
More charges could be filed, he said at a contested bond hearing.
He said that documentation with multiple names was allegedly found at the defendant’s address. He told the court that the defendant was a flight risk.
Judge Smyth posted a bond on Mr. Yu’s own bond of 500 euros with a separate bond of 12,000 euros.
He was placed in pretrial detention with consent to bail to appear in Cloverhill District Court on November 11.
Mr. Yu has not yet indicated how he will advocate.
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