Wednesday 28 October 2026Compiled from published reports. Every claim links to its source.

Ireland Crime

Every case followed from the first report to the sentence, or to where the reporting stopped.

Case No. 6890Insider trading · Co. Dublin · 19 May 2020

Man who pleaded guilty to insider trading in Open Orphan shares faces sentence review in February

Declan Service, a 63-year-old man, sold 3,893,820 Open Orphan plc shares in May 2020 after being told confidentially of a plan to issue new shares at a discount, and Goodbody sold his entire holding between May 19th and 21st. The Central Bank, which received a suspicious transaction report from Goodbody, contacted gardaí, and Service presented himself at Irishtown Garda station on September 13th, 2022 and made a full admission. Service pleaded guilty to insider trading, and in a December 2023 report Judge Elma Sheahan at Dublin Circuit Court said she was considering a sentence of eighteen months and would review it on February 19th, 2024. Service was remanded on bail to that review date and must lodge €69,310 with his solicitor to fund a fine.

  1. Reportednot reported
  2. Arrestednot reported
  3. Chargednot reported
  4. In courtnot reported
  5. Convicted20 Dec
  6. Sentenced
reportedhappened, not reportedlatest stagenot yet

Key facts

consolidated from all reports
What happened
Declan Service, a 63-year-old man, sold 3,893,820 shares in Open Orphan plc in May 2020.
Where
The offence is recorded in County Dublin.
When
Goodbody sold Service's entire shareholding between May 19th and 21st, 2020.
Cause
Service had been told confidentially of a plan to issue new shares at a discount.
Investigation
  • Goodbody filed a suspicious transaction report with the Central Bank, which contacted gardaí.
  • Service presented himself voluntarily at Irishtown Garda station on September 13th, 2022 and made a full admission.
Charges
Service pleaded guilty to insider trading contrary to the European Union (Market Abuse) Regulations 2016 and the Companies Act 2014; one article's headline says he was found guilty, but its text describes a guilty plea.
In court
The case is before Judge Elma Sheahan at Dublin Circuit Court.
Sentence
  • The judge is considering a sentence of eighteen months and will review it on February 19th, 2024.
  • Service is to lodge €69,310 with his solicitor to fund a fine; one article describes this as the equivalent of £60,000.
  • The offence carries a maximum sentence of up to ten years.
Other details
  • The Central Bank calculated that Service profited by about £11,500.
  • Service is understood to be the first person convicted in the State of insider trading under these regulations and the Companies Act 2014.
  • Service had no previous convictions and was remanded on bail to the review date.
14 statements extracted from the articles
  • whenService sold 3,893,820 shares in Open Orphan plc in May 2020. (irishtimes.com)
  • whenGoodbody sold Service's entire shareholding between May 19th and 21st. (irishtimes.com)
  • causeService had been told confidentially of a plan to issue new shares at a discount. (irishtimes.com)
  • investigationGoodbody filed a suspicious transaction report with the Central Bank, which contacted gardaí. (irishtimes.com)
  • investigationService presented himself voluntarily at Irishtown Garda station on September 13th, 2022 and made a full admission. (irishtimes.com)
  • chargeService pleaded guilty to insider trading. (irishtimes.com)
  • courtThe case is before Judge Elma Sheahan at Dublin Circuit Court. (irishtimes.com)
  • sentenceThe judge is considering a sentence of eighteen months and will review it in February. (irishtimes.com)
  • sentenceService is to lodge €69,310 with his solicitor to fund a fine. (irishtimes.com)
  • sentenceThe offence carries a maximum sentence of up to ten years. (irishtimes.com)
  • otherThe Central Bank calculated that Service profited by about £11,500. (irishtimes.com)
  • otherService is understood to be the first person convicted in the State of insider trading under the relevant EU regulations and the Companies Act 2014. (irishtimes.com)
  • otherService had no previous convictions. (irishtimes.com)
  • otherService was remanded on bail to the review date. (irishtimes.com)

The reporting

newest first
  1. 20 Dec2023
    Convictedirishtimes.com, first report
    Man who ‘gambled’ pension money on shares found guilty of insider trading

    Reports a guilty plea and the judge's intended sentence of eighteen months, with review on February 19th 2024; Service must lodge a fine amount with his solicitor. The article says he is understood to be the first person convicted in the State of insider trading under the EU Market Abuse Regulations 2016 and the Companies Act 2014. The headline says 'found guilty' but the text describes a guilty plea.

    convicted, Declan Service, 63, male, named, irish (judged from name)Declan Service