A Letterkenny business man defrauded a bank of more than €6,000 after lodging bogus cheques to the value of almost €90,000.
James McErlane (52) of 48 Whitethorn Close in Letterkenny used some of the money to pay for a luxury holiday to Egypt worth €1,600.
McErlane has admitted defrauding the AIB bank. Letterkenny Circuit Court heard he had accounts with National Irish Bank, Permanent TSB and AIB and transferred over €73,000 and then more than €16,000 from two different accounts to the Letterkenny branch of AIB in 2008. He made 29 transactions to the value of €6,725.84.
He claimed in court that investments worth €1 million are due to mature in October.
McErlane then made cash withdrawals and card transactions from the account for transactions that included to paying insurance, buying children’s toys and paying for a holiday at the Egyptian resort of Sharm El Sheikh.
McErlane admitted to gardaí the cheques to the AIB account without having sufficient funds to cover them. He said his wife did not know anything about the lodgements.
He said he had been owed a cheque from a third party that never came. McErlane said he had trusted some else but the was let down. He said he was sorry for what her had done and his actions were to “cover his a back” and he did not intend to defraud the bank. McErlane maintained he intends to pay the money back.
Judge Donagh McDonagh ordered McErlane to produce evidence of the investments to the court again today.
McErlane asked the judge for confidentially surrounding fthe name of the person he took the investments out with.
The judge told him that he was up to his eye balls in crime but he would treat the issue as sensitively as possible.