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£63m cash exchange fraudster walks free

By John Cassidy

Published 01/04/2015

A fraudster has been handed a two-year suspended sentence after admitting his involvement in a multi-million-pound money-laundering operation for criminals and drug dealers.

Rory Trainor (38), of Dunbrae Road, Newry, appeared at Newry Crown Court after sentence was deferred from last year to see if he would stay out of trouble.

He had pleaded guilty to four charges - false accounting, entering into an arrangement to acquire criminal property and two counts of transferring criminal property from a bureau de change on the Old Dublin Road in Newry.

Trainor admitted converting the proceeds of crime for criminal gangs, mainly drug dealers.

The court heard last year that £63m passed through his Best Rate Bureau business, being exchanged from sterling to euro and vice-versa, in less than two-and-a-half years.

Raids by customs officers on Trainor's home in 2009 uncovered £150,000 in bundles of notes. He was eventually caught during an undercover operation where he was recorded exchanging parcels of cash in a Belfast car park.

Belfast Telegraph

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