A young man was wined and dined in Dublin by “currency traders” but when they told him to make “no noise” about €10,000 landing in his bank account he found himself at the centre of a money-laundering investigation.
Judge Helen Boyle told the young man that people involving themselves in this crime often believed there was easy money to be made but she said that everyone had to work for their income.
Detective Garda Michelle Quinn said in her evidence of the money-laundering offence that a woman received a text message about her bank account and unfortunately she responded to this and as a consequence €10,000 was recovered from her bank account. This €10,000 ended up in the account of Michael Folasade.
Det. Garda Quinn said: “He was interviewed about suspected money-laundering and he was co-operative. He claimed to have no knowledge of how it ended in his account. But he was the only person with access to it. He has no previous convictions.
“He is a Nigerian national living in Ireland for seven or eight years and residing in Carrigtwohill.”
Defence barrister, Elaine Audley, said that the probation service considered him to be a low risk of re-offending. “He entered a guilty plea at the first opportunity.
“He was effectively groomed by individuals who wined and dined him in Dublin – took him to the high spots and wouldn’t allow him to pay. They said they were involved in currency trading.
“He noticed that €10,000 came into his account, they told him he would be in trouble if he made any noise about it,” Ms Audley said.
The barrister said that his family were all hardworking people and that he and they were deeply ashamed he got himself involved in this behaviour.
Judge Helen Boyle said a common feature of money-laundering cases was that people hoped to emulate the high life apparently enjoyed by others.
“But there is no easy money in life – you have to earn it. But I understand you are back working hard now and that the probation service find that you are a low risk of re-offending,” Judge Boyle said.
The judge imposed a sentence of 18 months which was suspended at Cork Circuit Criminal Court. The defendant was also required to pay €500 to Cork Penny Dinners and another €500 to the Society for St. Vincent de Paul.
