Patrick Russell, 56, pleaded guilty to the theft of €215,000 from Paul O’Connell at Anglesea Street, Temple Bar on July 23rd, 2015.

A further six counts were taken into consideration, among them the theft of €20,000 from Mr O’Connell as well as the use of false instruments such as forged deeds.

Mr Russell had claimed to be an arbitrator and financial consultant when he met Mr O’Connell in 2014. He offered to facilitate the purchase of a commercial warehouse at Clane Business Park for the sum of €235,000.

Various further sums were paid by Mr O’Connell to Mr Russell, with €215,000 being sent to solicitors who accepted it in good faith.

However, they became suspicious and went to gardaí to complain about Mr Russell. So too did Mr O’Connell and members of his family, presenting them with forged altered documents from the Property Registration Authority, which implied the mortgage had been paid off on the warehouse and that title had been transferred.

The court was told that the warehouse was never actually purchased and that Mr O’Connell remains at the loss of €235,000.

Bernard Condon SC, defending, said his client would do whatever was necessary to restore the total sum to Mr O’Connell.

He said that €215,000 is currently frozen in AIB and that Mr Russell had been offered work that would allow him to produce the remaining €20,000.

Mr Condon added that his client had health difficulties and an urgent cardiology appointment in July and asked the court for “one last chance” to allow him to address his health and gather the final sum to return to Mr O’Connell.

Judge Melanie Greally adjourned sentencing until November 4.