Owner of debt recovery business admits using fraudulent documents to obtain €71,000 mortgage
The owner of a debt recovery business has admitted he used fraudulent documents to obtain a €71,000 mortgage for his family home.
Dublin Circuit Criminal Court heard that Kevin Molloy (49) still lives in the home with his family, is paying off the mortgage and that the bank were not concerned about pursuing charges.
Donegal native Molloy, now of Dublin Rd., Celbridge, Co Kildare pleaded guilty to three offences under the theft and fraud act committed on dates between December 2014 and August 2016, including dishonestly inducing Ulster Bank at Lower Baggot st., to issue a mortgage on April 4, 2016.
Judge Melanie Greally adjourned the case to October and ordered that Molloy's suitability for community service work be assessed. She remanded him on continuing bail.
Detective Dominic McGrath told the court that the offences came to light in July 2016 when an official from the Bank of Ireland met with gardaí.
Between December 2014 and February 2015 Molloy provided a number of documents to the bank as part of a mortgage application. These included a salary cert which was found to be signed off in the name of a Mr Lafferty for a company actually owned by a Mr Laverty.
The bank's officials were not satisfied with the accuracy of the documents and declined the mortgage.
Garda investigations found later that Molloy had successfully applied in April 2016 to Ulster Bank for a mortgage and the bank had issued a mortgage of €71,900.
A review of this application found that some of the documents provided to Ulster Bank were fraudulent. These included altered bank statements and an altered P60 tax document and wage slips for companies which had gone into liquidation.
Molloy later presented himself to gardaí for questioning and accepted that the bank statement contained entries that couldn't possibly have been correct.
Mark Lynam BL, defending, said his client had wanted to get a family home and was keeping up repayments. He said the manager of Ulster Bank was initially reluctant to get involved in the investigation and the bank had raised no issues about repayments.
He said Molloy was self-employed with a debt recovery and credit control business and this business would suffer as a result of this conviction.
Molloy has previous convictions which include possession of counterfeit money and selling stolen alcohol. Counsel said his client grew up in Donegal along the border and that these were the type of offences one sometimes saw in border towns.
He said his client trained as a carpenter and had a business in Donegal that collapsed in 1998. He built the business back up in Dublin and was a major employer who always paid creditors and employees even when this firm collapsed in 2008.
A reference from Molloy's partner of nine years stated that all he ever wanted was to secure a family home for them and they were putting all their energy into renovating the home.
Mr Lynam provided the court with references citing Molloy's involvement with charitable work. He said there were a lot of people who relied on his client for help and assistance.