A DUBLIN MAN has been charged with unlawfully acting as an investment firm, possessing crime proceeds and deception of five people around the country.

Raymond Smyth, 58, Casimir Road, Harold’s Cross, appeared before Judge Cephas Power at Dublin District Court.

He faces nine charges, including four counts of money laundering under the Criminal Justice (Money Laundering & Terrorist Financing) Act 2010, one under the Investment Intermediaries Act 1995 and deception contrary to the Criminal Justice (Theft and Fraud Offences) Act 2001.

The offences are alleged to have occurred between March 2018 and June 2021.

Rathangan Garda Scott Brown told Judge Power that the accused was arrested on Wednesday at his home.

He was then held pending his court hearing.

He replied to charges: “I didn’t do any of that; these people were introduced to him by me, you know who I introduced them to.”

The Director of Public Prosecutions directed trial on indictment in the Circuit Court, which has broader sentencing powers.

Judge Power heard there were several injured parties “in various counties”.

There was no objection to bail, but the court imposed conditions.

Mr Smyth, who did not address the court, was ordered to sign on at Rathmines Garda station once a week, surrender his passport within 72 hours, provide gardai with a phone number on which he can be reached at all times, have no contact with prosecutions witnesses and to be available to gardai.

Mr Smyth, who remained silent throughout the hearing, was ordered to appear again at the District Court in September for prosecutors to complete a book of evidence which must be served on him before granting a trial order.

It is alleged that between 20 March, 2018, and 10 June, 2021, he acted as an investment business firm without authorisation as required by the Investment Intermediaries Act.

According to the four deception charges, he allegedly induced four named men and a woman to make multiple payments to make him a gain resulting in a loss to the alleged injured parties.

In the money laundering charges, it is alleged that on 14 August and 20 September 2019, at AIB Tallaght Dublin 24, he engaged in converting, transferring, handling, acquiring, possessing, or using €52,000, the proceeds of criminal conduct.

It is also alleged that on two other dates in June and December 2019, he converted, transferred, handled, acquired, or possessed €25,500 in crime proceeds.