A Dublin property broker accused of fraud over the sale of houses in Belfast was freed from custody yesterday after a magistrate halved his bail. Mr Vincent O'Donoghue (49), Beaumont Road, Dublin, is accused of dishonestly obtaining £15,000 sterling as deposits on 15 houses at Ardoyne which he claimed he was authorised to sell.
Mr O'Donoghue was remanded in custody at Belfast Magistrates' Court on July 12th. A week later he was remanded on his own bail of £5,000 with a surety of £50,000 but was told he had to remain in prison until the money was lodged in court.
Yesterday the court was told the bail had still not been perfected. The resident magistrate, Mr Desmond Perry, agreed to reduce bail to £2,500 and the surety to £23,000. A defence solicitor said he had arranged to lodge bank drafts with the court and Mr O'Donoghue was released soon afterwards.
He is due back in court next Tuesday. Mr Perry warned him that if he failed to appear, his own bail and the £23,000 surety would be forfeited.