MAN ACCUSED OF $7.8M MONEY LAUNDERING PLOT:

Remanded in custody after denying charges

A MAN has denied conspiring to money-launder $7.8m.

Michael Kinane also denied three charges of fraud and will stand trial at Caernarfon Crown Court next February.

The 41-year-old, whose address was given at an earlier hearing as High Street, Porthmadog, spoke only to confirm his name, date of birth and nationality when he appeared via videolink from prison for a plea hearing before a judge.

He entered a not guilty plea to an allegation that between October 9, 2018 and January 1, 2019 he “conspired with persons unknown, to conceal, disguise, convert, transfer or remove criminal property, namely $7.8m, the proceeds of criminal property”.

A previous hearing was told this was done by “means of transferring through foreign currency accounts”.

Kinane also denied making fraudulent representation to VW Financial Services to obtain an expensive Audi by claiming to be an employee of Shell.

He claimed to be the owner of a Shell garage in an attempt to obtain a Mercedes car and further claimed to be a director of Shell to obtain a Range Rover.

These offences were said to have been committed at the end of September last year.

The matter was adjourned for trial.

Judge Huw Rees ordered the hearing, expected to last up to seven days, be held at Caernarfon Crown Court next February.

A pre-trial review will be heard in December.

There was no application for bail and Kinane was remanded in custody until the trial.