Limerick businessman jailed for money laundering

first_imgThe Limerick man was jailed for money laundering and drugs offencesA LIMERICK man whose business folded during the economic crash has been jailed for two years for laundering €73,000 and storing €53,000 worth of drugs in what Gardaí described as a “highly sophisticated grow house”.At Limerick Circuit Court this week, Kenneth Moore (46) of Portcrusha, Montpellier pleaded guilty to possessing cannabis and money laundering contrary to Section 7 of the Criminal Justice Money Laundering and Terrorist Financing Act.Sign up for the weekly Limerick Post newsletter Sign Up On June 12, 2013, Gardaí searched a property in county Limerick where they found two shed-like containers. One had been converted into a sophisticated grow house and the other had compartments filled with cannabis behind a false wall.Drugs, cash and a counting machine were found at a stables nearby.Judge Tom O’Donnell was told that 14 cannabis plants found on the property were valued at €800 each while the harvested cannabis had a street value of €37,000. The cash, which was in two bundles, totalled €73,000.Describing Kenneth Moore as a “storehouse man for drugs and the cash”, Judge O’Donnell said that people who get involved in this type of offence must be prepared to accept the circumstances of their actions.As a result of his business failing, he had substantial debts and fell in to difficulty when he was unable to repay money he borrowed from “an unsavoury source”.He said that the sentencing regime provided for a presumptive mandatory minimum prison sentence of ten years, but the court could deviate from that if the circumstances made it unjust to impose such a sentence.There was a substantial amount of drugs and cash involved but Mr Moore had cooperated and was said to have been “at the lower end of the pyramid”. He also had a substantial debt burden and was under duress.After imposing a two year prison term on the drugs and money laundering charges, Judge O’Donnell suspended a second two year sentence for a period of six years. Predictions on the future of learning discussed at Limerick Lifelong Learning Festival NewsLimerick businessman jailed for money launderingBy Staff Reporter – October 29, 2016 2184 Limerick’s National Camogie League double header to be streamed live Twitter Facebook Print RELATED ARTICLESMORE FROM AUTHOR Limerick Artist ‘Willzee’ releases new Music Video – “A Dream of Peace” WhatsAppcenter_img Linkedin Email TAGSdrug grow houseKenneth Moorelimerickmoney laundering WATCH: “Everyone is fighting so hard to get on” – Pat Ryan on competitive camogie squads Advertisement Previous articleLast minute talks with WRC to avert policing crisisNext articleTop flight soloists, full orchestra and chorus for Aida Staff Reporter Limerick Ladies National Football League opener to be streamed live Billy Lee names strong Limerick side to take on Wicklow in crucial Division 3 clashlast_img