AIB mortgage used to invest in collapsed bank property fund

Two investors in a risky AIB property investment fund that has since collapsed in value invested in the fund with money loaned to them through an AIB mortgage.

Barry J Whyte

Chief Feature Writer @whytebarry
20th October, 2013

Two investors in a risky AIB property investment fund that has since collapsed in value invested in the fund with money loaned to them through an AIB mortgage.

Documents obtained by The Sunday Business Post reveal that the two AIB customers, who were investing in the sixth Belfry fund, were given a mortgage of €200,000 just months before they made an investment of the same size in the fund.

The customers involved, who do not...

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