Michael Collins (Cork South-West, Independent Ireland Party) | Oireachtas source

This scheme by the financial adviser seems similar to the Dolphin Trust, now known as German Property Group, which promised high interest payments on original investors' capital before collapsing, owing £1 billion and catching 1,800 Irish investors for €100 million. I raised this issue briefly last week in the Dáil and received an email last night from another investor who has now realised he has lost €500,000 of money he honestly invested. All of this has been going on, and for years the Central Bank seems to have been lying idly by while these advisers drive around the likes of Kinsale and set up business in Carrigaline. They are getting off scot-free and laughing at the great scams they have pulled off on these innocent people. I ask the Taoiseach to engage with the powers that be in the Central Bank and ask them to meet with a number of these innocent investors to see how these scam operators can be weeded out and these investors can have their moneys returned to them.

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