Stolen money conviction overturned
A money lender jailed for laundering more than £3 million from the Northern Bank robbery has declared himself "very happy" at having his convictions overturned.
Timothy "Ted" Cunningham, 63, of Farran, Co Cork, will face retrial on nine of the 10 counts against him after the ruling by Dublin's Court of Criminal Appeal (CCA).
But he will not be retried on the most serious charge, relating to £2.4 million (2.9 million euro) found stuffed into six holdalls in a cupboard in the basement of his home during a search in February 2005.
The other nine charges relate to smaller sums of money allegedly transferred by Mr Cunningham to other people.
After winning his appeal, he said: "I'm very, very happy."
Mr Cunningham is expected to be released on a number of conditions after signing off on a bail bond at Limerick Prison where he was driven back to after the hearing in Dublin.
The former financier was sentenced in April 2009 after a 44-day trial in which he was found guilty of laundering more than £3 million (3.7 million euro) from the £26.5 million (32.9 million euro) robbery of Northern Bank in Belfast in December 2004.
He pleaded not guilty at Cork Circuit Criminal Court to 10 charges of money laundering and later appealed against his convictions.
Earlier this year the Supreme Court declared that certain search warrants previously used by gardai during investigations were unconstitutional.
The three-judge CCA quashed the convictions on the basis that the warrant used to search Mr Cunningham's home was under the controversial Section 29 of the Offences Against the State Act and therefore not valid.