Debt recovery business owner used fraudulent documents to obtain mortgage

 

A Donegal man, the owner of a debt recovery business who used fraudulent documents to obtain a €71,000 mortgage for his family home has been ordered to complete 240 hours of community service.
Dublin Circuit Criminal Court heard that 49 year old Kevin Molloy still lives in the home with his family, is paying off the mortgage and that the bank is not concerned about pursuing charges.
Donegal man Kevin Molloy, now of Dublin Road, Celbridge, Co Kildare pleaded guilty to three offences under the Theft and Fraud Offences Act.
Judge Melanie Greally imposed 240 hours of community service to be completed within 12 months, in lieu of an 18 month prison sentence.
She noted the bank was not at a financial loss, Mr Molloy had co-operated with the investigation and that he was an “industrious” man with limited previous convictions.
The offences came to light in July 2016 when an official from the Bank of Ireland met with gardaí.
Mr Molloy provided the bank with a number of documents between December 2014 and February 2015 as part of a mortgage application. The mortgage was declined.
Mr Molloy successfully applied in April 2016 to Ulster Bank for a €71,000 mortgage. A review of the application found some documents to be fraudulent.
Molloy presented himself to gardaí for questioning and accepted the bank statement contained entries that couldn’t have been correct.