A 22-year-old man accused of five counts of deception involving a total of over €47,000 by inducing people to invest in cryptocurrency confessed to the crimes on Tuesday.
Callum Kearney of no fixed address was originally arrested by Detective Garda Donal O’Connell and charged with five counts of deception under the Theft and Fraud Offences Act.
On Tuesday he was arraigned at Cork Circuit Criminal Court and pleaded guilty to all charges.
Defence barrister Paula McCarthy said a prison governor’s report was sought in advance of sentencing and so too was a medical report. Prosecution barrister Emmet Boyle said victim impact statements are to be prepared.
Judge Helen Boyle adjourned sentencing until June 13. One of the complainants is allegedly at a loss of €30,000.
It is alleged that the accused man dishonestly by deception induced one man to give him €4,750 as an investment, with the intention of making a gain for himself between June and October 2021.
He faced a similar charge in respect of €7,500 and €1,700 from two other men in the same period. He is charged with inducing a woman to give him €3,700 by deception to make a gain for himself.
Finally, he is charged that by deception he induced a man to give him a vehicle valued €11,000 and €19,000 in cash, again to make a gain for himself.
Four of the offences relate to Ballincollig and the count referring to €7,500 is from Bishopstown.