Irish building firm Seabuild has been spared a criminal conviction despite taking money from employees’ wages and not investing it into their pension scheme, the Irish Examiner has reported.

The company pleaded guilty to five counts under Section 58-A of the Pensions Act before Judge John Brenan at Dublin District Court yesterday.

The court was informed that Seabuild had been in business for 35 years, however, in 2008 and 2009 fell into difficulty, resulting in €300,000 of debt.

Judge Brenan concluded the case by stating the charge can issue a fine of up to €5,000 but that is not compulsory. While the judge acknowledged the severity of the offences committed, found the facts to be proven and dismissed the case, along with dropping charges against the company’s directors.

Seabuild was prosecuted by the Pensions Authority after the watchdog agency was contacted in 2014. The court were informed that there were debts of €13,776, but the company, which has no previous convictions, paid up before summonses were issued.

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