The Court of Criminal Appeal has quashed the conviction of Ted Cunningham, who was in 2009 found guilty of laundering more than £3m from the Northern Bank robbery in 2004.
He had been convicted of ten counts of money laundering at Cork Circuit Criminal Court and sentenced to ten years in prison.
He appealed, but his appeal had not been heard by the time the Supreme Court delivered a judgment earlier this year, overturning a section of the Offences Against the State Act.
The Supreme Court found that section 29 of the Act was unconstitutional as it allowed a garda superintendent to issue a search warrant in certain circumstances and not an independent authority.
The most serious count of which Mr Cunningham was convicted arose from a search of his house under that legislation.
A sum of £2.4m sterling was found during that search.
The Court found today that Mr Cunningham was entitled to rely on the Supreme Court ruling.
It quashed all ten counts and ordered a retrial on nine of them.
The Supreme Court judgment means that there will be no retrial on the most serious count.
