Custom House Capital executives set for sentencing in fraud case

Three senior executives have admitted conspiring to defraud investors and clients in illfated group

Four senior executives of Custom House Capital (CHC) are due to be sentenced at Dublin Circuit Criminal Court next month in relation to a conspiracy to defraud investors in the firm over a decade ago.

The company’s former chief executive Harry Cassidy (67), former head of private clients John Whyte (53) and Paul Lavery (47), head of finance, pleaded guilty to conspiring with others to defraud investors in and clients and customers of Custom House Capital Ltd by intentionally misleading them as to where and/or how their assets had been placed contrary to common law.

John Mulholland (73), of The Foxes Colvert, Mount Juliet estate, Thomastown, Co Kilkenny, who was a non-executive director of CHC, pleaded guilty to one count of neglectful discharge of the duty of a director in relation to the commission by the company of acts of dishonesty by inducing clients to entrust funds, refrain from removing funds with the intention of making a gain for itself and causing loss to another.

All of the offences occurred on dates between October 1st, 2008, and July 15th, 2011.


Cassidy of Clon Brugh, Aitkens Village, Stepaside, Dublin; Whyte of Beechpark, Lucan, Dublin; Lavery of Rafeenan, Ballynod, Co Monaghan; and Mulholland are due to appear before Dublin Circuit Criminal Court on April 21st for a sentencing hearing in front of Judge Orla Crowe.

The court was told on Wednesday that the hearing is expected to last one day.