The High Court has rejected a claim by a convicted money launderer that the State unlawfully seized millions of pounds in sterling from him which was stolen in the Northern Bank robbery in Belfast in December 2004.

Over £26m was taken in the robbery of which more than £2.4m was found in Ted Cunningham’s home

The 68-year-old claimed in the High Court his property rights had been infringed and the money had been unlawfully seized from his home in 2005.

He also claimed the fact that the money was in his home was "prima facia" evidence that he owned it.

However Cunningham admitted in garda interviews that the money was the proceeds of the Northern Bank Robbery.

Ms Justice Miriam O’Regan said he failed to show the money belonged to him and refused his application.

Ted Cunningham was jailed for money laundering after a trial in 2009 but his conviction was subsequently overturned after the warrant the gardaí used to search his home was deemed invalid by the Supreme Court.

He later pleaded guilty to two other money laundering offences and was given a five-year suspended sentence.

The Criminal Assets Bureau also secured a High Court judgment for €880,000 against him in relation to tax and the investigation is continuing.

The money discovered by gardaí has been returned to Danske Bank, more than £20m is still missing.