A Cork financial advisor has pleaded not guilty to nine charges of money laundering relating to the Northern Bank robbery in Belfast in 2004.

Timothy Cunningham Snr, 65, of Woodbine Lodge, Farran, Co Cork, denied the charges during an arraignment at Cork Circuit Criminal Court today.

£26.5 million was stolen from the Northern Bank in Belfast city centre on December 20th 2004.

The court heard that the money involved in the case was over £600,000. 

Senior counsel for the prosecution Tom O'Connell outlined the case to the jury of seven men and five women.

Mr Cunningham is accused of using sterling from the robbery about five to six weeks after the raid and that he knew, or was reckless, about whether it was linked to the robbery.

Mr Cunningham is accused of using sterling taken from the bank at a number of locations in Cork and Offaly in early 2005.

Some of the charges relate to cheques that were obtained and motor vehicles that were transferred to other people.

The trial continues on Friday. It is expected that it could take up to two weeks.