A former solicitor has admitted stealing over €450,000 from clients' accounts to buy cars, pay his credit card, pay for property transactions, pay a horse trainer and to give to other people.

David O'Shea, from Parkmore Drive, Terenure, Dublin 6W, also admitted giving another €250,000 to one client which should have been used to pay off that person's mortgage.

O Donovan's solicitors, which at one stage employed 13 people, has since closed. The court heard the two partners in the company can no longer get insurance to work as solicitors.

The 45-year-old pleaded guilty today, and has been remanded in custody for sentencing next week.

Mr O'Shea was hired by O'Donovan solicitors in Dublin in 2002.

However, in February 2008 the firm's accountant noticed financial irregularities and the Garda Bureau of Fraud Investigation was called.

Mr O'Shea was subsequently charged with 26 theft and fraud offences over a six-year period.

He admitted stealing €452,000, of which €387,000 was for his own personal use.

The Dublin Circuit Criminal Court heard he bought two cars, paid off Mastercard bills, put thousands into his personal account, stole stamp duty, paid for property transactions and gave money to a horse trainer.

Large amounts were taken from the estate of a businessman who died without leaving a will.

The court was also told that Mr O'Shea was threatened by Giovanni di Stefano, an Italian man who claimed to be a lawyer and represented convicted drug dealer John Gilligan.

Mr O'Shea told gardaí that Mr Di Stefano phoned him and told him he had two lovely daughters but he would not have them any longer if he did not give the Italian €80,000.

The former solicitor said he was aware of certain individuals known to the gardaí in Limerick, and knew what they were capable of doing. He tried but could not get a loan of the money from a bank.

The investigating officer, Sergeant Martin Griffin of the Garda Bureau of Fraud Investigation, said this was not disputed by the gardaí.

Mr O' Shea also admitted giving another €250,000 to one client, which should have been used to pay off that man's Bank of Ireland mortgage, and paying another client's legal bills of €79,000.

Judge Mary Ellen Ring said that she wanted to read the admissions, but insisted Mr O'Shea would go to jail and she remanded him in custody for sentencing next Tuesday.