Kildare woman given 12-month jail sentence for stealing €460K to help ill husband's business survive

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Kildare woman given 12-month jail sentence for stealing €460K to help ill husband's business survive
9:10 Saturday 13th of January 2018

A mother of two from Athy who stole €460,000 from a financial services firm that she was managing has had her jail term cut from six months on appeal.

Lisa Lynch(33) stole the money from a firm to help keep a company owned by her husband - who had it passed down to him from his father - afloat after she became the managing director when her husband took ill.

Ms Lynch's husband was diagnosed with mouth cancer in 2012, meaning she was put in charge of AGL Logistics, despite being ill-equipped for the role at the time.

The struggling company fell into debt, leading Ms Lynch to issuing 93 false invoices on foot of which payments were made by Bibby Financial Services which resulted in a loss to it of €460,660.

Bibby had a deal with AGL that they would purchase their debt by offering short terms loans at high interest, and when a customer owed money to AGL Bibby would give them 80 per cent of that debt, on the agreement that the money would be repaid whether or not AGL's customer paid their outstanding bill.

Ms Lynch began saving €50 a week a number of years ago in a bid to build a compensation fund, and she entered an early guilty plea to the Circuit Court. Her barrister, Lorcan Staines BL, asked for a non-custodial disposal at her sentencing, but Ms Lynch was given an 18-month term, with the final six months of those suspended. She had previously been given an 18-month jail term before her appeal.

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