A businessman has appeared in court charged in connection with a mobile phone fraud operation worth millions of euro.
Chengwen Guo, aged 41, and from Ivy Exchange, Parnell Street, Dublin 1, owns several mobile phone shops.
He faces three charges of money laundering.
Detective Garda Conor Cadogan told Dublin District Court the accused man made no reply when charged last night.
The charges relate to three sums of money seized in January 2022: €6,515 found in an Audi Q7 car registered to the accused; €143,245 at his home address; and €20,700 at a phone shop he owned, Murray’s mobiles on Main Street in Dundrum, Dublin 14.
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Mr Cadogan said the money was seized as part of an investigation running over several years into an alleged fraud where counterfeit Apple iPhones were sent from China to be submitted for repair under warranty here and exchanged for genuine iPhones which would be sent back to China.
Mr Cadogan estimated the value of the fraud at €9.7m.
Applying for bail, defence solicitor Conor Ruane told Judge David McHugh that his client has significant ties to Ireland as his wife and several of their children are Irish citizens.
Judge McHugh refused bail, agreeing with gardaí that the seriousness of the charges increased the flight risk.
Chengwen Guo was remanded in custody to appear at Cloverhill District Court on Wednesday 18 September.
