Broken trust: The fight to recover invested funds from doomed Dolphin venture
A group of about 1,800 Irish investors placed a collective €107 million in German Property Group, formerly Dolphin Trust, before it collapsed in 2020. Some are seeking restitution in the courts, but a long legal battle lies ahead if they are ever to get their money back
“I would like to contact investors,” a small notice placed in the Galway Advertiser in November 2020 began.
The ad was placed by Diarmuid, then 75 years old, who had invested €30,000 of his savings in a property scheme which filed for bankruptcy only a few months before. He made the investment in the hope that it would generate some much-needed income during his retirement.
The ad was headlined in bold “German Property Group, formerly ...