DUBLIN, IRELAND – Monday, April 13, 2026 – Former Irish Olympian Catriona Carey has been formally charged with multiple counts of money laundering and significant breaches of company law, marking a critical development in a high-profile investigation that has gripped the nation. The 47-year-old Kilkenny native, once a celebrated hockey and camogie star, appeared in court today as legal proceedings intensify around allegations of a sophisticated mortgage fraud scheme that preyed on vulnerable homeowners.
The charges against Catriona Carey stem from an extensive probe by the Garda National Economic Crime Bureau (GNECB) and the Corporate Enforcement Authority (CEA). The core of the allegations revolves around her company, Careysfort Asset Estates Ltd, which is accused of operating an unauthorized financial service, luring individuals in mortgage arrears with false promises of rescuing their homes. This marks a significant escalation in a case that has seen public scrutiny since early 2022.
The Charges Against Catriona Carey
Catriona Carey is facing three charges under Section 7 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010, relating to alleged offenses that occurred between 2019 and 2021. In parallel, she is also contending with a staggering 46 charges under the Companies Act, covering alleged breaches of company law between 2019 and 2022. These include serious infractions such as failing to provide crucial information to the Companies Registration Office (CRO), neglecting to maintain proper financial records, not notifying authorities of address changes, and failing to file mandatory financial returns. To date, Carey has not yet entered pleas to any of these charges.
The alleged scheme involved Careysfort Asset Estates Ltd, registered in England, falsely representing its ability to acquire distressed mortgage debts from lenders at a discounted rate. Clients were then supposedly offered the opportunity to buy back their own debt at the same discounted price, secured with a new loan and lower monthly repayments. However, the critical flaw, now central to the charges, is that Careysfort Asset Estates was never authorized by the Central Bank of Ireland to engage in such activities – rendering its operations unlawful and its promises unattainable.
“This case highlights the urgent need for individuals to verify the authorization of any financial service provider with the Central Bank of Ireland before committing funds, especially when dealing with distressed assets.”
Victims were reportedly required to pay substantial upfront deposits, often ranging from 10% to 30% of the supposed discounted debt. These payments were frequently requested in cash or wired to Careysfort Asset Estates accounts in Belgium or Germany. Reports indicate that these promised services never materialised, and the funds were allegedly diverted for personal use by Catriona Carey.
Scale of the Alleged Crime
While the precise total amount of money allegedly laundered or lost has not been explicitly detailed in court documents, reports suggest a significant impact. At least 18 individuals have come forward claiming to have been defrauded by Carey’s company, with their combined losses estimated at approximately half a million euros. Individual victims reportedly paid sums as high as €30,000 in deposits, often representing their life savings or funds borrowed under duress, all in a desperate bid to save their homes.
The victims were predominantly vulnerable homeowners facing mortgage arrears, desperately seeking a solution to avoid losing their family residences. The alleged scheme exploited their precarious financial situations, turning hope into devastating losses. There is no information to suggest that companies or pension funds were directly impacted by this particular fraudulent operation.
Who Is Catriona Carey?
Catriona Carey is a 47-year-old Irish national, originally from Kilkenny, with an address in Rochford Manor, Graigecullen, Co. Carlow. Beyond her current legal troubles, Carey was a prominent figure in Irish sports, representing her country as an Olympian in hockey and achieving success in camogie. A trained accountant, she leveraged her professional background to establish and direct Careysfort Asset Estates Ltd. However, her past has also been marked by legal issues; she was fined in 2008 for tax offenses and convicted in February 2020 for theft and forging a cheque, receiving an eight-month suspended prison sentence.
Investigation Details
The extensive investigation into Catriona Carey’s alleged fraudulent activities was a collaborative effort between the Garda National Economic Crime Bureau (GNECB) and the Corporate Enforcement Authority (CEA). The GNECB began receiving numerous complaints about Carey and Careysfort Asset Estates even before a February 2022 RTÉ Investigates program publicly exposed the elaborate scam, significantly increasing public awareness and leading to a surge in victim reports.
The probe involved a search of Carey’s home in March 2022, where crucial documents were seized. Following a comprehensive review, a file detailing the alleged fraudulent activities was submitted to the Director of Public Prosecutions (DPP) in March 2024. The DPP subsequently authorized the charges against Carey and her co-defendants, leading to her arrest and initial charges in December 2024, followed by the significant number of company law charges in February 2025.
What Happens Next
Catriona Carey remains on €500 bail, subject to strict conditions including residing at her current address, notifying authorities of any changes, remaining contactable by phone, and providing 21 days’ notice if she intends to leave the State. Her trial for money laundering charges is currently scheduled for January 27, 2027, with the trial for company law breaches set for June 2027. The legal process is expected to be protracted, with further court appearances anticipated as both prosecution and defense prepare their cases. The outcome of these trials will be closely watched, not only by the victims but by the wider public and regulatory bodies.
For more insights into similar financial schemes, readers can explore our related fraud investigations.
Protecting Yourself from Financial Fraud
The Catriona Carey case serves as a stark reminder of the sophisticated tactics employed by fraudsters. Several red flags were present in this alleged scheme that consumers should be vigilant about. Always verify that any financial services company is authorized by the Central Bank of Ireland, especially if they are offering to manage or buy your debts. Be extremely wary of demands for large upfront deposits, particularly if requested in cash or wired to foreign accounts. Unrealistic promises of quick fixes for complex financial problems, a lack of transparency regarding contracts, and significant delays without clear explanations are all warning signs. Furthermore, a background check for previous convictions or public warnings from regulatory bodies can provide crucial insights into an individual’s trustworthiness. Staying informed and exercising due diligence are your best defenses against falling victim to such schemes.
