The High Court has granted account freezing orders against a financial adviser and two of his companies over an alleged failure to return €159,000 advanced in 2017 for investment.
Ms Justice Leonie Reynolds granted the orders to Jamie Murphy who claims that James Doherty, trading as Demvera Capital Partners, has used the money for his own personal use.
Mr Murphy, represented by Eugene Gleeson SC, with Alanna McGurk, instructed by solicitor Richard Bennett, secured the orders against James Doherty, trading as Demvera Capital Partners, with a registered address at Serpentine Business Park, Serpentine Avenue, Ballsbridge, Dublin 4.
The injunction was also granted against a related company, Demvera Trust unlimited company, Burnfoot Business Park, Main Street, Burnfoot, Co Donegal.
The orders prevent the defendant reducing his assets, which includes sums held in two bank accounts in Co Dublin and Donegal, beneath a value of €159,000.
Somewhere in the UK
The judge also ordered that Mr Doherty produce a list of all his assets within four weeks.
Mr Murphy, of St Anne’s Park, Quinn’s Road, Shankill, Co Dublin, has claimed, despite hiring a private investigator, Mr Doherty cannot be located and it is believed he is somewhere in the UK.
Seeking the orders, Mr Gleeson said Mr Murphy was introduced to Mr Doherty, who represented himself as an accountant and a financial adviser and had advanced €159,000 to him in 2017.
The money came from a trust fund and personal savings and was to be invested in a firm providing home care to those with disabilities but was never invested with that company, counsel said.
His client had sought explanations from Mr Doherty and, when proper explanations were not forthcoming, sought the return of the investment.
Victim of fraud?
Despite various assurances, the money has never been returned by Mr Doherty who had given excuses, including ill health, as a reason for not returning the monies, counsel said.
A search had been unable to find Mr Doherty listed as a member of any registered accountancy bodies here or in Northern Ireland and the UK, he said.
Mr Murphy fears he may be victim of a fraud and requires the freezing orders as he fears the defendants may dissipate monies held in the bank accounts, the court was told.
The judge, who earlier this week granted permission to serve short notice of the proceedings on the defendants, granted the injunctions and returned the matter to next month.
