The specifics of the money-laundering charge state that between October 15 and November 15, 2021, he handled cryptocurrency, knowing or being reckless as to whether on not it was the proceeds of criminal conduct. Specifically, this referred to 1.175 units of digital currency, Ethereum (E.T.H.).

He is also charged that on November 16, 2021, he had potassium nitrate, sulphur and charcoal at a house at Bishopsgrove, Curraheen Drive, Cork, “and did not have it for a lawful object”, under the Explosive Substances Act.

Sergeant Gearóid Davis said the Director of Public Prosecutions directed that the charges be dealt with by indictment at the Cork Circuit Criminal Court.

There was no objection to bail being granted to the accused on conditions, including his own bond of €1,000, signing twice a week at Togher garda station, residing at The Cloisters, Ballincollig, surrendering his passport within 24 hours to gardaí and undertaking not to apply for new travel documents and having a phone at which he is contactable at all times by gardaí.

Judge Miriam Walsh remanded the 25-year-old man on bail on those conditions until June 25 and directed that a memo of the defendant’s interview with gardaí would be sent to defence solicitor Stephen Cotter.