He pleaded guilty to ten counts of forgery, 41 counts of theft and 31 counts of money laundering on dates between August 2009 and September 2015
A credit union for Citybus employees was forced to close after the chair of its board of directors stole over €100,000 through a series of frauds and thefts, a court has heard.He became chair of the board in 2013. He began misappropriating funds in the credit union in 2009.
Detective Garda Mairead Murphy told Eoin Lawlor BL, prosecuting, that in May 2016, after an accountant took on the position of financial officer, a reconciliation of the accounts led to the discovery of"discrepancies in the member’s draw", Mr Lawlor said. The court heard that in total, Stamper issued false cheques totalling €351,642 and the total profit he made through the scheme was €107,730.
The statement outlined the"reputational damage" caused to the credit union and the additional expenses incurred due to the investigation in addition to the funds having been stolen.The statement concluded that this additional cost, including auditors and legal fees, which was not entirely covered by their insurance company, was borne by the members of the credit union.
These were"deliberate and reasonably sophisticated thefts from which the accused profited greatly", Judge Hayes said.
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