Brothers get court orders against O'Brien

TWO BROTHERS have secured court orders transferring to the Dublin County Sheriff various shareholdings of an alleged “pyramid” investment scheme operator Breifne O’Brien as part of their continuing efforts to secure repayment of €3 million in investment monies.

Farmers Louis and Robert Dowley, Carrick-on-Suir, Co Tipperary, had sought the transfer orders against Mr O’Brien over his failure to repay the vast bulk of judgment orders for €3 million granted against Mr O’Brien early this year arising from their giving him sums to invest.

Mr Justice Peter Kelly yesterday made orders transferring to the sheriff the shareholdings by Mr O’Brien in several companies including Independent News Media, AIB, Merrion Pharmaceuticals, CRH and Blackrock Cabs.

Mr O’Brien did not contest the orders.

The court previously heard the sheriff had seized assets of Mr O’Brien including an Aston Martin car and some small art works.

Mr O’Brien’s wife, Fiona Nagle, had made claims over assets of her husband in Blackrock Cabs but was unable to fund legal representation in relation to the Dowleys’ application, the judge heard yesterday.

Mr Justice Kelly was told that papers in the case had been served on Ms Nagle at her home in Glenageary, Co Dublin, and Ms Nagle had asked to have certain matters in correspondence drawn to the attention of the judge. Mr O’Brien now has an address in Thomastown, it was also stated yesterday.

The Dowleys are among several investors who have secured judgment for sums totalling some €18 million against Mr O’Brien, over allegedly operating a “pyramid” investment scheme over some 15 years, misappropriating millions from several investors to fund his personal lifestyle and business interests.

Mr Justice Kelly earlier this year referred papers in the case to Garda Fraud Squad detectives after saying they disclosed prima facie evidence relating to the commission of a series of criminal offences.

The judge also ordered Mr O’Brien to repay some €18 million, plus interest and costs, given to him by friends who were the apparent victims of a “highly successful but not particularly sophisticated confidence trick”.

He made further orders freezing Mr O’Brien’s accounts below €18 million.