A 58-year old man has been before Tralee District Court in Co Kerry, charged with laundering more than €90,000 and sterling currency.

Thomas Coffey, of Ballyspillane, Killarney, was arrested and charged today by an officer from the Criminal Assets Bureau.

The CAB officer told Judge David Waters that she charged Mr Coffey with a single count under the Money Laundering and Terrorist Financing Act.

Mr Coffey is charged with converting, transferring, handling, acquiring, possessing or using €87,850 and £5,610 in sterling while knowing, believing or being reckless as to whether or not it was the proceeds of criminal conduct.

Sergeant Miriam Mulhall-Nolan applied for the accused to be remanded in custody with consent to bail on certain conditions.

She said gardaí had received directions from the Director of Public Prosecutions that the case is to be dealt with on indictment before the Circuit Criminal Court.

Solicitor Padraig O'Connell, for Mr Coffey, said he was consenting to the bail conditions.

He said today's arrest was by arrangement.

Mr Coffey will be back in court again on 6 May, when a book of evidence will be served on him.