The Sinn Féin county councillor suspended by the party just days after he topped the poll in the local elections has apologised for causing embarrassment to the his family and the party.
In a statement issued through the Sinn Féin press office in Dublin, Cllr Martin Christie said: "During a previous employment a number of years ago I inappropriately failed to register the sale of a supply of goods to the value of €1,700.
"This was a moment of stupidity, which was completely out of character and which I have regretted ever since.
"I made a mistake that I corrected immediately by paying the amount back in full and then parted from the company on good terms. No charges or criminal proceedings were ever undertaken," the statement said.
"I genuinely believed that it was a situation from the past that had been fully and appropriately dealt with and which was now behind me. I apologise for any embarrassment to my family and to Sinn Féin."
Mr Christie, who topped the poll in the Mulhuddart ward, said he would await the outcome of the party's inquiry before making further comment.
A date for completion of the inquiry has not been set.