Bust property group continued raising money despite collapse
The 1,800 Irish investors, among them healthcare workers, small business owners and pensioners who invested €107 million in Dolphin Trust had their investments written down as worthless late last year
The founder of the bust German property group where hundreds of Irish investors have had their interest written down to zero, has admitted it kept raising money even though it could not pay returns already due.
In his statement to the German public prosecutor’s office on December 16, Charles Smethurst also acknowledged the lack of transparency to investors about escalating problems dating back to 2018.
Smethurst ran Dolphin Trust, now called German Property Group, where...
Subscribe from just €1 for the first month!
With any subscription you will have access to
Unlimited multi-device access to our iPad, iPhone and Android Apps
Unlimited access to our eReader library
Exclusive daily insight and opinion seven days a week
Create alerts to never miss a subject that matters to you
Get access to exclusive offers for subscribers on gifts and experiences
Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine
Ireland well-placed to hear more commercial disputes, judge says
Judge David Barniville said the Commerical Court was a ‘realistic and attractive option’ for the resolution of commercial cases post-Brexit
Games developer sues Facebook for $2.5m in Irish High Court
App Quantum Publishing Ltd began proceedings against Facebook Ireland Ltd in June
Ireland ‘missing out’ on $14bn legal services market
Dan Fox of Johnson Hana says his firm is one of the only alternative legal service providers in this country providing a competitive alternative to large law firms
Equity partners to be excluded from gender pay gap reporting
New legislation requiring employers to publish pay differences will not include equity partners, as they are considered business owners rather than employees