A LIMERICK accountant who embezzled thousands of euro from a bar and restaurant, used the money to carry out home improvements and even buy a piano, a court has heard.
44-year-old Kieran O’Halloran, with an address at Keelgrove, Ardnacrusha pleaded guilty to the theft of money from the businesses, namely Mullally Taverns and Racefield Catering Ltd.
The father of two also falsified loan documents to KBC bank to draw down loan a loan for €18,255 which he claimed were fom porfessional fees owing to him from another separate business.
Commending the gardai investigation which led to the unfolding of Mr O’Halloran’s deception, Judge Tom O’Donnell said at Limerick Circuit Court that the accused completely betrayed his position of trust.
Detective Garda Donal Moynihan told the court that a full Revenue audit was sparked after penalties and interest were added to VAT repayments that O’Halloran failed to make. Instead, the court heard that the accountant used the money to pay for home improvements and pay for items like a €3,500 piano using company cheques.
Det Moynihan told the court that when the thefts unfolded, it was discovered that “the accounts were in an appalling state”.
He outlined that company cheques were used for payments to contractors for home improvements but the cheque stubs indicated food and drink suppliers were being paid.
“A full audit was sparked by Revenue after they issued penalties and interest on an unpaid €7,000 return. The amount repayable then increased to €11,000.
“Mr O’Halloran was given an instruction to pay Revenue but the money was used elsewhere”, Det Moynihan said.
Further evidence was given by Det Moynihan that the 44-year-old applied, in the name of another business, for a loan from KBC Bank to “fund professional fees” he claimed he was owed.
Kieran O’Halloran forged signatures, used a copy of a business owner’s driving licence and falsified documents to draw down over €18,000 from the bank. The 44-year-old pocketed over €12,000 of the money.
The court heard that the amount of money taken from the business totalled in the region of €50,000.
Mr O’Halloran pleaded guilty to 15 sample thefts charges before the court.
Judge Tom O’Donnell remanded the 44-year-old on his own continuing bail until July 22 next for judgement.
“It is rare that I comment on cases but given the evidence that has been presented before the court and the trawl to the bottom of this case – even if we have reached the bottom, I have to commend the work and investigations of An Garda Siochana and Det Moynihan.
“The investigation was brought through fruition with dogged tenacity despite the chaotic environment”, he concluded.
