It’s three years since the discovery of £2.3million in sterling in a bin at his home in Cork and, as noted in this report, two years since the submission of a file to the DPP. Today Ted Cunningham has been arrested again and is reportedly due to be charged with money-laundering. A second man is also facing charges. From the BBC report
A garda spokesman said the two men would be facing separate charges, with only one charged with money laundering. He added: “These charges arise out of an investigation carried out by the Gardai in Cork following the robbery of the Northern Bank. “As part of the same investigation, a second man will also appear in court this morning charged with possession of ammunition.”
Update From the Irish Times report
Timothy Cunningham was charged at Cork District Court with having more than £3.5 million worth of sterling and euro cash and cheques from the robbery in Belfast, in December 2004. The 59-year-old money lender, known as Ted, from Farran in Co Cork was charged with trying to launder the money by disposing of it through friends and business associates.
Also in the BBC report
Mr Cunningham is understood to have told police the money belonged to a group of Bulgarian businessmen he had dealings with and was not connected to the Northern Bank money.
Mr Cunningham and others visited Bulgaria in January 2005
And one of those who accompanied him to Bulgaria, Phil Flynn, later told his story in an interview in the Village magazine.
Update More from the Irish Times report
The 10 charges he faces include possession of £3.01 million from the Northern Bank robbery, a cheque for 56,000 from the heist, which he gave to his son, Timothy Junior, and two cheques worth 144,000, also from the bank job, which he lodged to a bank account in Co Wicklow.
He was also charged with having a Mitsubishi Pajero car worth 10,000, bought with money from the heist.
Two other cars were said to have been bought with cash from the theft.
Another charge states that Cunningham had £175,360 from the robbery which he gave to an associate in return for 200,000 in cheques.