Irish businessman facing charges allowed travel to US to take up $250,000 a year job

Entrepreneur Illann Power (30) had his passport returned to him so he can travel to work in a new position in an American firm while his case is before the Irish courts.

Judge Bryan Smyth granted his application for a variation of bail terms at Dublin District Court.

Mr Power, from Co Carlow, is previously a founder of the spirits company Incubrands, which was acquired by Bacardi in 2015. He also co-created Illann Power Companies, an investment firm and Nohovation, a start-up venture fund.

He is facing three charges contrary to Section 876 of the Companies Act, for allegedly providing false information.

It relates to an allegation of knowingly or recklessly furnishing false information to an electronic filing agent that is subsequently transmitted in a return made on the person's behalf.

The charges followed an investigation by the CEA into Dublin Distillers & Co Teoranta relating to the filing of allegedly false B1 Annual Returns with the Companies Registration Office.

The accused first appeared in court on the charges in July and was remanded on bail to a date in October. Under conditions, he was to surrender his passport, not leave the state and sign on at a garda station.

Today, his solicitor Peter Connolly applied for the return of his passport because Mr Power had "a job offer he's very anxious to take up in the States."

It was a "very well paid job" with a $250,000 salary, the court heard. The accused would come back to Ireland for his case, Mr Connolly said.

The DPP had directed summary trial of the charges at district court level, subject to a judge considering jurisdiction.

The Corporate Enforcement Authority objected to the application, arguing that Mr Power's ties to the state were "loose."

Mr Connolly said the accused was an Irish citizen and had a child here.

Some €11,500 was in a relative's credit union account to be offered as an independent surety.

Judge Smyth said on balance he would allow the return of the accused's passport. The court heard the conditions to sign on at a garda station and remain in the state would also fall.

The judge revoked existing bail and granted new bail, in the accused's own bond of €100 and the independent surety.

Under new conditions, Mr Power is to reside at an address in the US, with full details to be furnished to Detective Garda Nevan Hartley, along with any American mobile phone number.

Mr Power has not yet entered pleas to the charges.