The Daily Star Ireland
Brendan Mullin, a former rugby international, has been sentenced to three years in prison for embezzling over €570,000 from Bank of Ireland Private Bank during his tenure as CEO a decade ago. The 61-year-old from Stillorgan Road, Donnybrook, Dublin 4, had denied the charges of theft and false accounting.
The trial, which lasted three weeks, heard that Mullin arranged payments from the bank to McCann Fitzgerald solicitors, Beechwood accountants, and Grant Thornton for services related to either his personal interests or his company, Quantum Investment Strategies. The prosecution further alleged that Mullin took €500,000 from the bank during a communication breakdown within the bank, transferring the funds to Spice Holdings, a company registered in the British Virgin Islands. Mullin had introduced Spice Holdings as a client to the bank.
Judge Martin Nolan, during sentencing, highlighted that Mullin held a position of trust and power at the bank, allowing him to influence others to carry out his actions. The judge suggested that Mullin’s motives were unclear, but inferred he may have been desperate for funds. In his decision, Judge Nolan considered several mitigating factors, including the fact that Bank of Ireland Private Bank had been fully repaid the stolen funds and that there was a significant delay in bringing the case to trial.
Mullin, who has since expressed remorse and accepted the verdicts, was sentenced to three years in prison. He was acquitted of charges relating to Beechwood Partners, including an alleged theft of €6,150 and a false accounting charge. The jury was also instructed to deliver a not guilty verdict on a charge involving Mullin’s alleged deception of two bank employees.
