Former Irish hockey international and camogie player Catriona Carey has been charged with three counts of money laundering, marking a significant development in a prolonged investigation into alleged financial misconduct. Carey, aged 46, appeared before Dublin District Court on December 4, 2024, alongside co-defendants Paddy Maher and John Steadmond, who face related charges.

Allegations and Charges

The charges against Carey pertain to her role as director of Careysfort Asset Estates Ltd, a financial services company implicated in fraudulent activities. She is accused of engaging in the conversion, transfer, handling, acquisition, possession, and use of property known to be the proceeds of criminal conduct. The alleged offenses occurred over three consecutive years, from 2019 to 2021, involving credit balances in a specific bank account held by Careysfort Asset Estates Ltd at Wise Europe SA. The exact sums involved have not been disclosed.

Court Proceedings

During the court session, Detective Gerard Carmody of the Garda National Economic Crime Bureau (GNECB) testified that Carey made no reply when the charges were presented to her. The Director of Public Prosecutions (DPP) has directed that the case be tried on indictment in the Circuit Court, which has broader sentencing powers. Carey was granted bail under several conditions, including notifying the GNECB of any change of address, being contactable via a provided phone number, giving three weeks’ notice before leaving the jurisdiction, signing in twice weekly at Kilkenny Garda Station, and refraining from contacting any of the 25 prosecution witnesses.

Legal Aid Application

Carey applied for free legal aid, with her solicitor, Andrew Broderick, stating, “She was a lady of means previously; however, currently, she’s not.” Detective Carmody confirmed satisfaction with her declared statement of income, and the judge granted the application, noting there was no Garda objection.

Co-Defendants and Related Charges

Co-defendants Paddy Maher, 57, and John Steadmond, 47, are accused of impersonating solic … between July 2019 and February 2022. Steadmond faces 17 additional charges of deception, allegedly inducing 21 individuals to pay deposits by falsely representing that Careysfort Asset Estates could secure finance for distressed mortgage holders, with the intention of making … . Both men were granted bail under conditions similar to Carey’s and are scheduled to appear in court again on January 31, 2025.

Background and Previous Investigations

Carey, sister of former Kilkenny hurler DJ Carey, has a history of legal issues. In February 2020, she was convicted of theft and fraud for forging a cheque from a Kilkenny hairdresser who had hired her as his accountant, receiving an eight-month suspended prison sentence. In March 2022, the GNECB raided her home, confiscating documents and digital devices as part of an investigation into allegations that Careysfort Asset Estates defrauded individuals struggling with mortgage repayments. The company allegedly offered to buy mortgage debt from lenders at a discounted price and sell it back to the mortgage holders, charging upfront deposits ranging from €5,000 to over €30,000. However, clients did not receive the promised services, and funds were reportedly misappropriated for personal use, including luxury goods and travel.

Financial Mismanagement and Central Bank Warning

In June 2022, the Central Bank of Ireland issued a warning advising the public not to engage with Careysfort Asset Estates Ltd, listing it as an unauthorized firm. Financial statements obtained by RTÉ Investigates revealed that approximately €400,000 from clients was paid into the company’s account over two years, with significant expenditures on luxury items and international travel. For instance, over €22,000 was spent during a seven-day trip to Florida, including €987 at Armani Exchange.

Impact on Victims

The alleged fraudulent scheme had devastating effects on victims, many of whom were already in financial distress. Some individuals borrowed money or used inheritances to pay deposits, believing they were securing their homes. One victim, Colin Finnegan, nearly lost his grandfather’s home due to the scam, stating, “It was my grandfather’s home; it is in the family a hundred years.”

The charges against Catriona Carey and her co-defendants highlight the severe consequences of financial misconduct and the importance of regulatory oversight. As the legal proceedings continue, the case underscores the necessity for vigilance in financial dealings and the protection of vulnerable individuals from fraudulent schemes.

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