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Arrests over Northern Bank raid Arrests over Northern Bank raid
(10 minutes later)
Irish detectives have arrested two men in connection with a money laundering inquiry launched after the Northern Bank robbery in December 2004.Irish detectives have arrested two men in connection with a money laundering inquiry launched after the Northern Bank robbery in December 2004.
Cash, including more than £1m, was found in a wheeled bin at a house in Cork in February 2005.Cash, including more than £1m, was found in a wheeled bin at a house in Cork in February 2005.
Two men are expected to appear at Cork District Court on Thursday on money laundering and weapons charges. The two men are expected to appear at Cork District Court on Thursday on money laundering and weapons charges.
About £26.5m was stolen in the robbery at the Northern Bank's Belfast headquarters.About £26.5m was stolen in the robbery at the Northern Bank's Belfast headquarters.
The two men who were arrested include Ted Cunningham from Farrans in Cork, outside whose house the bin was found.The two men who were arrested include Ted Cunningham from Farrans in Cork, outside whose house the bin was found.
A garda spokesman said the two men would be facing separate charges, with only one charged with money laundering.A garda spokesman said the two men would be facing separate charges, with only one charged with money laundering.
He added: "These charges arise out of an investigation carried out by the Gardai in Cork following the robbery of the Northern Bank.He added: "These charges arise out of an investigation carried out by the Gardai in Cork following the robbery of the Northern Bank.
"As part of the same investigation, a second man will also appear in court this morning charged with possession of ammunition.""As part of the same investigation, a second man will also appear in court this morning charged with possession of ammunition."
Mr Cunningham, 60, is a former business associate of ex-Sinn Fein senior figure Phil Flynn.
About £2.3m was found in the wheeled bin outside his home in February 2005.
Mr Cunningham is understood to have told police the money belonged to a group of Bulgarian businessmen he had dealings with and was not connected to the Northern Bank money.
The second man arrested, aged 40, is understood to be facing charges connected to a smaller amount of money.
That money was seized in a number of follow-up raids by detectives.