A solicitor and a retired mortgage broker have pleaded guilty in relation to fraudulent financial dealings.
Mother-of-two Mary Miley (56) and mortgage broker Noel Ryan (67) took out loans using false documents to develop property. Both were remanded on bail for sentencing next week.
Miley, of Duncairn Avenue, Bray, Co Wicklow, pleaded guilty to sample charges under the Theft and Fraud Act between January 2006 and February 2008. Ryan, of Ballinapierce, Enniscorthy, Co Wexford, pleaded guilty to a single charge, namely that he aided and abetted Miley.
Three loans
The court heard Miley used a false passport and driving licence to apply for three loans totalling €750,000 from Secured Property Loans Mortgages (SPL) in October 2007 and February 2008. She also obtained a short-term mortgage of €179,100 from Start Mortgages in January 2006.
The Law Society removed Miley from the roll of solicitors in 2009.
The court was told medical reports stated she suffered domestic violence, aggression and mental torture all her married life. She has a chronic depressive illness and could have carried out some actions without fully appreciating the consequences, the report said.
Now retired, Ryan was the mortgage broker who acted as an accomplice to Miley. He transferred on two of the loans to SPL even though he knew the loan applications were made out to Mary Doore, the solicitor’s maiden name.
At the Central Criminal Court in Dublin yesterday, Judge Leonie Reynolds adjourned sentencing until Monday to consider the evidence.
Det Garda David Coyne, from the Garda Bureau of Fraud Investigation, told the court that Miley had pretended to be two different people.
For one of the loans of more than €200,000 intended for the purchase of ¾ acre of land in Clonroche, Co Wexford, the signature on the passport had been forged. Planning permission for the site had been issued to someone else but Miley inserted her own name.
A P60 revenue document was also forged, as was the site valuation, which included a picture of a house next door.
Chasing debt
Some of the loans secured from SPL were taken to make repayments on the loan fraudulently obtained from Start Mortgages in 2006 when that company became concerned about the debt and began chasing Miley for the balance.
She took out a loan in February 2008 against a property in Wicklow town which is owned by a Wicklow native who lives in New Zealand, Det Garda Coyne said.
Miley and Ryan drew down €750,000 from SPL and Ryan received €11,400 commission.
None of this has been repaid and the court heard the money was spent in the buying and building of development sites that the pair had hoped to sell on for profit.
The mortgage from Start Mortgages has been fully discharged, the court heard.