‘The money has disappeared’: how Dolphin Trust vanished a fortune

Property investment group Dolphin Trust collapsed in July with liabilities of over €1 billion – and took with it the pensions of thousands of ordinary people who thought their life savings were safe. What happened to their money – and will they ever see any of it again?

20th December, 2020
‘The money has disappeared’: how Dolphin Trust vanished a fortune
Charles Smethurst and his wife Manou Lenz: the Germany-based Dolphin Trust was founded by Smethurst, who is now being investigated by German authorities on foot of a criminal complaint Picture: Getty

It had already been an incredibly stressful year for Padraig, a healthcare worker in an Irish hospital, when he received some news last month that stunned him – an investment he had made of €60,000 was now worth zero.

During the course of a 35-year career, he had spent ten years working in the National Health Service in Britain, regularly working nights and weekends in a challenging area of nursing.

“It was money that was...

Subscribe from just €1 for the first month!


What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Related Stories

Waterford Whisky makes €2.8m from new range of whiskies

Companies Barry J Whyte 16 hours ago

Games-industry tax relief ‘should be linked to living wage’

Companies Aaron Rogan 16 hours ago

Former MP’s book blames O’Reilly for collapse of Waterford Wedgwood

Companies Róisín Burke 16 hours ago

Sanctuary Runners teams with Gym + Coffee to launch first range of merchandise

Companies Catherine Sanz 16 hours ago