Top pool player staged sham robbery of Limerick bookies

first_imgNewsTop pool player staged sham robbery of Limerick bookiesBy Staff Reporter – December 23, 2016 3204 WATCH: “Everyone is fighting so hard to get on” – Pat Ryan on competitive camogie squads Neil Madigan from Limerick, who in 2014 was ranked the No 1 Irish Pool Player, staged a robbery at the betting shop he managed. Picture: Don Moloney / Press 22A TOP ranked pool player has been “left in the gutter” over his involvement in robbing the betting shop he managed, Limerick Circuit Court was told last week.Neil Madigan (32) of Prospect, Limerick was said to have run up large gambling debts and was trying to “bet his way out of trouble” when he staged a robbery of the Ladbrokes betting shop on Cecil Street shortly before 9:30pm on March 17, 2015.Sign up for the weekly Limerick Post newsletter Sign Up An international pool player, he was also involved in bringing high profile snooker players like Denis Taylor and Steve Davis to Limerick for exhibition matches. He even had an exhibition match arranged for the day after the alleged robbery.Detective Garda Michael Lambe said that Neil Madigan was counting cash when Hayden Johnson (22) from Ballinacurra Weston approached the counter.Madigan later told Gardaí that he let Johnson in behind the counter because he was afraid he was going to be stabbed.Johnson made off with €6,000 in cash but missed another bag of money in the safe.The store manager gave a detailed statement to Gardaí in which he recounted details of the alleged robbery. Extensive CCTV footage was from around the city centre was examined and eventually Johnson was identified through an unusual jacket he was wearing.Johnson, who was a former apprentice jockey, was arrested and after initially denying any involvement, he later admitted to robbing the betting shop and claimed there was only €2,000 in the cash bag which was not recovered.The head of security at Ladbrokes became suspicious of Neil Madigan’s actions on the night of the alleged robbery as he had failed to adhere to certain security protocols. He had also failed to make bank lodgements for two days before incident.Prosecution Counsel John O’Sullivan BL said it soon became apparent “that it was effectively an inside job”.He was betting on credit at the shop he managed as well as betting in other shops around the city.Three months later, he admitted his involvement and told Gardaí that he met an unnamed man who said he could help him by “sending a young fella down if there was money ready”.Madigan, who worked with Ladbrokes for 11 years, didn’t think the man was serious but went along with it after he was told the debt would be wiped out.Defence counsel Brian McInerney said his client was now “in the gutter and has limited prospects such is the attraction this story will get”.Hayden Johnson had since secured a job and offered to pay €100 every two weeks to repay the €2,000 he claimed was in the bag.Adjourning the case for 12 months, Judge Tom O’Donnell said he would take into account if any compensation was paid.Madigan and Johnson were released on continuing bail. Advertisement RELATED ARTICLESMORE FROM AUTHOR Predictions on the future of learning discussed at Limerick Lifelong Learning Festival TAGSDennis TaylorfeaturedLadbrokeslimerickLimerick Limerick Circuit CourtPoolrobberySteve Davis WhatsApp Print Facebook Limerick’s Neil Madigan who in 2014 was ranked the No 1 Irish Pool Player.Picture: Don Moloney / Press 22 Limerick Ladies National Football League opener to be streamed live Previous articleLimerick victim of savage assault says there’s no justiceNext articleWin cinema tickets Staff Reporterhttp://www.limerickpost.ie Limerick’s National Camogie League double header to be streamed live Twitter Linkedin Limerick Artist ‘Willzee’ releases new Music Video – “A Dream of Peace” Email Billy Lee names strong Limerick side to take on Wicklow in crucial Division 3 clashlast_img read more

Freeport Village Cashier Charged With $13K Theft

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York Dubois ChevelleA Freeport cashier has been arrested for stealing more than $13,000 from the village by altering residents’ water and electric utility payments and pocketing the cash over the past three years.Chevelle Dubois pleaded not guilty Wednesday at Nassau County to charges of grand larceny, defrauding the government, falsifying business records and official misconduct.Prosecutors said the 36-year-old Freeport woman collected payments from residents, recorded them in a computerized system and then altered the entry to reflect that the payment had been refunded to the resident before pocketing the money.Dubois used the stolen cash to repay the accounts she had stolen from the previous day until the alleged scheme unraveled in May when a resident received a default notice—despite having receipts proving that he had paid the bill, authorities said.She had stolen more than $5,000 from 22 accounts and her cash drawer was short an additional $8,000 when she was fired in June.She was released without bail and is due back in court Sept. 18. She faces up to seven years in prison, if convicted.last_img read more

Supermarket scheme to up risk exposure with indexation in mind

first_imgAs part of its new investment policy, Ahold Delhaize Pensioen said it would raise its strategic securities allocation from 44% to 50%, while reducing its fixed income holdings from 56% to 50%.Renate Pijst, the scheme’s director, said that increasing the risk exposure while the market seemed to be at its peak had been a deliberate decision.“Doing nothing would mean that it would be difficult to escape the current situation in which we can’t compensate for inflation,” she explained.The pension fund also abandoned its tactical investment policy with a bandwidth of 10%, replacing it with a strategic approach with a margin of no more than 2.5%.At year-end, the scheme’s actual securities allocation was 37%, which was already relatively low, according to Pijst.“However, under the rules of our old dynamic investment policy, we would have to reduce our holdings to 35%,” she added.The Ahold Delhaize scheme indicated it wanted to limit its dynamic investment policy to situations where the pension fund had “very high or very low” funding.Currency hedging, passive shift, ESGThe pension fund further said it would halve its current full currency hedge of the US dollar and sterling, and that it would raise its dynamic interest hedge from 57% to 60% of its liabilities.The changes are scheduled to be fully implemented at the end of this year.The retailer’s pension fund said that the adjustments came in part as a consequence of comments made by supervisor De Nederlandsche Bank after an asset management survey the regulator had carried out.Based on the outcome, the Ahold Delhaize scheme had also ceased its temporary hedge of the Swiss franc and US interest rates, it said.The annual report also revealed that the pension fund wants to continue focusing on passive investments.At the start of 2019, it had completed the conversion of its emerging markets equity stake into fully passive holdings.Last year, the pension fund lost 7.8% on equity, 0.3% on high yield bonds and 2.1% on emerging market debt.Investments in euro-denominated government bonds and credit generated 1.7% and 0.9%, respectively, while residential mortgages delivered 2%.With a return of 18.6%, alternative investments were the best-returning asset class.The scheme announced that it would consult its stakeholders about formulating its policy on environmental, social and corporate governance matters, and that it would explore the investment opportunities linked to climate change. Ahold Delhaize Pensioen, the €4.6bn pension fund of the Dutch-Belgian supermarket chain, has said it would raise the risk exposure of its investments to improve the potential for inflation compensation.In its annual report for 2018, it made clear that it had made the decision based on an asset-liability management study.The adjustment comes in the wake of a disappointing investment year during which the pension fund incurred a 0.8% loss, leaving it unable to grant indexation for the fourth consecutive year.The hoped-for recovery didn’t materialise, and the scheme closed the year with a funding of 109.6%.last_img read more