Funmi Abimbola, a 26-year-old former bank worker, has been imprisoned for three years, after pleading guilty to multiple charges relating to money laundering and abetting organised crime, according to Dublin Circuit Criminal Court reports. The charges pertain to Abimbola’s involvement with “The Black Axe”, an international criminal group. The court was informed that he was 22 during the time of the crimes and was working for a bank, originating from a respectable family.
The case against Abimbola involves his provision of bank accounts to another individual for the purpose of money laundering, between August 2018 and February 2021. Judge Pauline Codd served him a five-year sentence, but suspended the last two years. While delivering the sentence, the Judge noted the irony that Abimbola was an employee of Bank of Ireland whilst committing some of these crimes, despite holding a degree and a master’s.
The “Black Axe” gang is known for recruiting “money mules” in Ireland and abroad. These individuals would subsequently be utilised for fraudulent activities and money laundering. The crimes Abimbola was convicted of included laundering money stolen from a Dublin legal firm through invoice redirect fraud, which amounted to around €121,000.
Detective Garda Ciaran Ronan from the Garda National Economic Crime Bureau took the stand, giving evidence that juveniles frequently end up as money mules. He shared that the investigation into the stolen money led to the discovery of other separate incidences of money laundering.
In spite of Abimbola’s offences, the Judge recognized his remorse and insight into his actions. His youth at the time and the saving of State resources due to his guilty plea were taken into consideration as mitigating factors.
It was observed by her that he was exceptionally bright, already possessing two degree qualifications. She also acknowledged his ability to assist others. He was a man with numerous commendable traits, but the difficulty lay in comprehending his involvement in such inexplicable actions, remarked the judge. In connection with this, four more males in their twenties were handed down verdicts by Judge Martin Nolan earlier this year in January.