Brothel boss used Credit Union to launder money
CARLOW MAN TJ Carroll, who was convicted of running a prostitution ring and money laundering last month, laundered his cash through his Credit Union and bank of Ireland accounts, a court heard.
At the Welsh court Judge Neil Bidder was told that he tidied up his cash through the accounts which included ¤854,000 in a single deposit to his Credit Union account which he earned through his prostitution empire.
In a written judgment it has shown how Carroll evaded the authorities by moving cash between accounts, some held by his daughter Toma Carroll.
The court heard that for every ¤27,000 in total takings from his brothels, he was making more than ¤13,000 in clear profit.
In 2005, records showed a final balance for the year of ¤300,000 from Carroll's Irish brothels.
In 2006, a search discovered ¤100,000 in cash kept in a safe and between ¤10,000 and ¤15,000 kept in notes in his house.
'The money laundering scheme was complicated, it included property investments in Wales and other countries, financed with the proceeds of the prostitution business,' the judge said.
Other monies ended up in Bank of Ireland accounts in the name of Toma Carroll. These included a sum of ¤ 111,000, which passed through the account in 2006.
But by 2007 the money going into the account had increased to ¤1.13m and there was another ¤ 500,000 moved through the account up to the end of September 2008.
Judge Bidder described Toma Carroll as an 'intelligent and capable young woman who should have been content to follow your chosen career in the law'.
