AIB faces new legal row over Belfry funds
First fund returned a profit but investors were then wiped out
A new legal case has been filed against AIB by a former investor in one of its bust Belfry investment funds.
Between 2002 and 2006, the Belfry funds raised nearly €300 million from thousands of AIB customers, to which the bank then added nearly €1 billion worth of loans to buy commercial properties across Britain, just as the property market was reaching its peak. The first fund returned a profit but investors in ...
