Money laundering: Young people in Waterford being groomed into crime by major criminal figures
It has become a regular occurrence that "unsuspecting" young people are offered money in exchange for their bank account.
In the past number of years, there has been an “avalanche” of young people coming before the courts in Waterford on money laundering charges.
Young people are regularly being caught and convicted for their role in large scale phishing operations, while the superordinate “masterminds” behind the scams are proving to be more evasive.
This is according to a local defence solicitor, who spoke on the issue to a judge last week during the sentencing of his 22-year-old client, Emmanuel Imasogie, with an address in Kilbarry, Waterford city.
During a wider investigation into a large scale phishing scam in 2023, Imasogie was identified by gardaí after monies, which were extracted from a victim’s bank account in Finland, were deposited into his bank account.
The total value was €5,925.
Due to banking regulations in Finland, the victim was never compensated.
Imasogie was later interviewed by gardai, initially making no admissions.
Last week, he pleaded guilty to one count of money laundering, contrary to the Criminal Justice (Money Laundering & Terrorist Financing Act) 2010.
Judge Catriona Murray, presiding over Waterford District Court, described Imasogie as “young and vulnerable”.
She added, however, that his role in the scam involved a large sum of money, with no chance of compensation to the victim.
Judge Murray sentenced Imasogie to four months in prison, fully suspended for a period of 18 months.
The man’s defence solicitor, Hilary Delahunty, said to Judge Murray during the sentencing hearing last week that in 2023, gardaí in Waterford were investigating two high-ranking individuals involved in large scale money laundering scams, one of which was in possession of a villa in Dubai.
Both of these men are “very significant players”, Mr. Delahunty said.
Upon arrest, one of them “took an awful lot of people down with him”.
It was under these circumstances that Imasogie was arrested. It is alleged that he never knew the individuals who were higher in the chain than him.
Mr. Delahunty said that it has become a regular occurrence that "unsuspecting" young people are offered money in exchange for their bank accounts. These accounts will then be used to deposit the proceeds of criminal conduct.
It is “impossible” for these young people to not get caught, Mr. Delahunty added, as a very clear money trail is created through the process, making it relatively simple for gardaí to trace them down.
In the past three to four years, "hundreds" of people in Waterford have been convicted of such crimes.
