A financial advisor from Cork has been given a five year suspended jail sentencing for his part in money laundering around stg£275,000 (€335,003) stolen in the Northern Bank raid.

Ted Cunningham (65) of Woodbine Lodge, Farran in Co. Cork was given the sentence at Cork Circuit Criminal Court after he pleaded guilty to two counts of money laundering.

The charges state that Mr. Cunningham committed money laundering on both occasions and was reckless that the monies involved were the proceeds of a crime - the Northern Bank raid.

Over stg£26 million (€31 million) was taken in the raid which happened in Belfast in December 2004.