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| Version 1 | Version 2 |
|---|---|
| Ex bank managers on fraud charge | Ex bank managers on fraud charge |
| (10 minutes later) | |
| Two former bank managers from County Armagh have appeared in court charged in connection with an alleged £7m fraud and money laundering operation. | Two former bank managers from County Armagh have appeared in court charged in connection with an alleged £7m fraud and money laundering operation. |
| Peter Creegan, 43, from Tullydonnell Road, Silverbridge, worked at the Newry branch of First Trust bank. | Peter Creegan, 43, from Tullydonnell Road, Silverbridge, worked at the Newry branch of First Trust bank. |
| Also appearing before Armagh Magistrates Court was Damien Pius Mallon from Drumconwell Road in Armagh. | Also appearing before Armagh Magistrates Court was Damien Pius Mallon from Drumconwell Road in Armagh. |
| Mr Mallon, 52, formerly ran branches of the Halifax in Keady and Dungannon but is currently suspended from that role. | Mr Mallon, 52, formerly ran branches of the Halifax in Keady and Dungannon but is currently suspended from that role. |
| Mr Creegan faces a total of 26 charges relating to fraud and concealing criminal property. | Mr Creegan faces a total of 26 charges relating to fraud and concealing criminal property. |
| He was dismissed from his job as manager of First Trust in Newry in January following an internal investigation. | He was dismissed from his job as manager of First Trust in Newry in January following an internal investigation. |
| Many of the charges allege that he tried to cause loss to his former employers, who are the NI unit of Allied Irish Banks. | |
| In total, the charges involve over £7m in Euro and Sterling. | In total, the charges involve over £7m in Euro and Sterling. |
| Mr Mallon faces a dozen similar charges including fraud, acquiring criminal property and concealing criminal property. | Mr Mallon faces a dozen similar charges including fraud, acquiring criminal property and concealing criminal property. |
| Investigation | Investigation |
| A detective told the court the investigation had begun when they received a complaint from the First Trust Bank and a third party whom he did not want to name in open court. | A detective told the court the investigation had begun when they received a complaint from the First Trust Bank and a third party whom he did not want to name in open court. |
| He said the investigation was ongoing and that the police were still trying to identify other witnesses, victims and possibly co-conspirators. | He said the investigation was ongoing and that the police were still trying to identify other witnesses, victims and possibly co-conspirators. |
| Questioned by a solicitor for Damien Mallon, a detective confirmed that he had made "several full and frank admissions" during some 18 interviews. | Questioned by a solicitor for Damien Mallon, a detective confirmed that he had made "several full and frank admissions" during some 18 interviews. |
| The solicitor said his client had assisted the police in any way he could and "pointed them in the right direction". | The solicitor said his client had assisted the police in any way he could and "pointed them in the right direction". |
| The police also confirmed that both men's homes had been searched and that a huge amount of documentation had been taken away for examination. | The police also confirmed that both men's homes had been searched and that a huge amount of documentation had been taken away for examination. |
| The District Judge, Paul Copeland, said there were many aspects of the case to be considered before he could decide on bail and adjourned it until Tuesday. | |
| Until then, both men have been remanded in custody. | Until then, both men have been remanded in custody. |