Dolphin Trust founder claims to have been a director only ‘on paper’

Liquidators accused Charles Smethurst of reckless trading in collapse of property investment scheme

Charles Smethurst, founder, Dolphin Trust: accused of reckless trading by liquidators

Charles Smethurst, the founder of Dolphin Trust, has said he was “simply a director on paper” of an Irish company that raised over €65 million in pension investments for the now-collapsed property investment scheme.

The German-British businessman made the comment in response to queries from liquidators who have accused him of reckless trading in High Court proceedings launched last week.

Shane McCarthy and Ian Barrett of KPMG are the liquidators of MUT 116, a company ...