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The judge also warned Mr Andrei that it would be a condition of his bail “not to carry out any cryptocurrency transactions” and make no comments on public forums, including social media, about the case.
Detectives with the Garda National Cyber Crime Bureau (GNCCB) seized around €6.5 million worth of cryptocurrency and arrested three people during a raid at a property in north Co Dublin.
Kevin Daniel Andrei, 23, of Drynam Avenue, Swords, appeared at Dublin District Court on Thursday afternoon charged with three counts of possessing close to €600,000 in crime proceeds under section seven of the Criminal Justice Act (Money Laundering & Terrorist Financing).
He is accused of “concealing and disguising the true nature and source of 65 Wirex transactions” totalling €22,049 between March 3, 2021, and September 5, 2022, at various locations within the state.
According to another charge, between February 26, 2021, and February 26, 2024, he engaged in “concealing and disguising the true nature and source of 1822 Revolut transactions that is the proceeds of criminal conduct,” valued €227,429.
The third one claims he disguised the true nature and source of 422 separate Binance transactions worth €341,959 between March 21, 2021, and December 20, 2023, at various places in Ireland.
Kevin Daniel Andrei, 23, of Drynam Avenue, Swords, appeared at Dublin District Court on Thursday. Pic Collins Courts
Dressed in a grey hoody, dark trousers and runners, the accused sat silently during the hearing and has yet to indicate a plea.
GNCCB Detective Ciaran Byrne told Judge Michael Connellan that the accused was charged at Kevin Street Garda station at 1.25 pm on Thursday and “made no reply to the charges”.
Although the detective initially objected to bail, he added that he had discussed significant conditions with defence solicitor Kate McGhee.
The solicitor confirmed her client agreed to the terms proposed by the GNCCB detective. Judge Connellan imposed them and granted bail.
He told the accused, who has surrendered his passport, to sign on three days a week at his local garda station, not to apply for a replacement passport or new travel documents, reside at his current address, provide a mobile phone number to gardai and be contactable at all times.
The judge also warned Mr Andrei that it would be a condition of his bail “not to carry out any cryptocurrency transactions” and make no comments on public forums, including social media, about the case.
Bail was set in his bond of €100, and Mr Andrei was ordered to appear again on October 3 for directions from the Director of Public Prosecutions (DPP) to be outlined.
Legal aid was granted after the judge noted from the defence solicitor that her client was not working.
A man and a woman were also arrested on suspicion of alleged offences under money laundering and terrorism financing legislation. However, they have been released from custody pending the submission of a file to the DPP.
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