A former solicitor and a mortgage broker have admitted their roles in a fraud in which forged and falsified documents were used to borrow over €900,000 from two financial institutions over a three-year period.
Mary Miley, 55, from Duncairn Avenue in Bray and Noel Ryan, 66, from Ballynapierce, Enniscorthy in Co Wexford are due to be sentenced next week.
The Dublin Circuit Criminal Court heard they took out loans using false documents to develop property, but the money is now gone.
The court was told Miley practised as a solicitor for over 25 years and was respected in Wicklow, but her involvement in this fraud had led to the loss of her income, her ability to earn and her complete ruin.
The 55-year-old mother-of-two took out four loans with two financial institutions, Secured Property Loans Limited and Start Mortgages, between 2006 and 2008.
The court heard she got involved in the development of property and used a passport in a false name for two of the loans and a driving licence in someone else's name for another.
Detective Garda David Coyne told the court that three of the loans amounted to €739,100, some of which was used to pay back a fourth loan of €180,000.
The defence described this as a case of robbing Peter to pay Paul.
The court was also told today the signature on the passport had been forged for one of the loans of over €200,000, which was for 0.75 acres of land in Co Wexford.
Planning permission for the site had been issued to someone else, but Miley inserted her own name.
It heard that the P60 was also a fraud, as was the site valuation, which included a picture of a house next door.
The court was told that Miley succeeded in borrowing another €209,000 in the name of a man who did not exist.
The detective said SPL had relied on the trustworthiness of the legal advisor and its security was founded on the undertakings given by the solicitor.
Her co-accused Ryan, the court heard, was a carpenter who became a mortgage broker after his shop-fitting company in Wexford went out of business.
His defence counsel said he was not best-qualified and that he admitted earning €11,400 commission on Miley's property loans.
The court heard he submitted two of the fraudulent loans and acted as an aider or abettor because he knew Miley was using a false name.
Judge Leonie Reynolds remanded both on continuing bail for sentencing next week.