Lawyers for a 'devout Christian' who was struck off as a solicitor for stealing €2.8 million from his clients have asked a judge to be merciful when imposing a sentence.
Ruairi O'Ceallaigh (42) is facing up to 10 years in prison for dipping into seven client accounts at his family's now defunct legal practice Sean O'Ceallaigh and Co. in north Dublin between 2006 and 2010.
Barrister Padraig Dwyer SC described his client as a 'gambler' who 'lost his way', and a lot of money investing in CFDs (Contracts for Difference) on the stock market in a 'season of madness'.
His client was 'out of control' at a time when the country was 'largely out of control' in property speculation, he said.
Dublin Circuit Criminal Court heard the former lawyer of Collegeland, Summerhill, Co. Meath came clean when the Law Society noticed two client files were missing during a routine inspection of the books in 2010.
He pleaded guilty earlier this year to seven charges of dishonestly appropriating funds under the Theft and Fraud Offences Act. In one instance, he stole €1.6 million which had been bequeathed to the Archbishop of Dublin in a client's will.
The struck off solicitor used the money to buy and renovate an investment property on Grand Canal Street. He later apologised in person to the Archbishop and tried to organise a repayment scheme.
The archdiocese remains €750,000 out of pocket - having received the maximum compensation of €700,000 from the Law Society. All the other victims have been compensated in full.
The court heard the former solicitor stole clients' money to fund stockmarket losses and went back for more when he ran 'deeper and deeper into problems'.
Mr. Dwyer SC told the court his client is 'driven by Christian values'. He has a history of charitable works and is 'deeply ashamed and full of remorse' for his actions. Several character references were submitted to the court.
He said it was a 'very tragic story' as one man's problem had led to the winding down of the 'fantastic' law practice Ruairi O'Ceallaigh's father had established in 1958.
Mr. Dwyer described it as an exceptional case and asked the sentencing judge to show mercy. Judge Mary-Ellen Ring remanded him in custody ahead of sentencing on July 18th.
