Corporate watchdog drops Pembroke Dynamic collapse inquiry

Company founder Peter Conlon jailed in Switzerland for embezzlement

The State's corporate watchdog is no longer investigating the affairs of the collapsed charities fundraising service Pembroke Dynamic and two related entities, the High Court has heard.

The Office of the Director of Corporate Enforcement had been investigating Pembroke Dynamic Internet Services Ltd, and related companies Ammado Technology Ltd and the Ammado Foundation to see if there had been any suspected offences under the Companies Act 2014.

During its investigation the ODCE said Pembroke Dynamic's former boss Peter Conlon was jailed by a Swiss court after he pleaded guilty to embezzlement of charity donations made through his company.

Ms Justice Leonie Reynolds was informed this week that the ODCE, represented by Aillil O'Reilly BL, was satisfied of the veracity of Mr Conlon's claim that he had been jailed by a court in Zurich.

The court heard the ODCE had now concluded that no further action needed to be taken by it in its investigation into any suspected offences against the companies.

As a result, the judge agreed to the ODCE’s request to be allowed out of High Court proceedings, to which it was a notice party, brought against Mr Conlon by the company’s liquidator, Myles Kirby.


Mr Kirby has brought proceedings against Mr Conlon as part of an investigation into what happened to some €3.8 million in donations to dozens of charities allegedly misappropriated by the Dublin company.

In 2018 Mr Kirby’s lawyers secured an injunction freezing Mr Conlon’s assets, including his bank accounts below €3.8 million.

In his action against the businessman, Mr Kirby also seeks an order making Mr Conlon personally liable for the company’s debts.

Mr Conlon, who founded the collapsed Pembroke Dynamic, wants the injunction freezing his assets lifted and is contesting the liquidator’s application.

The case was adjourned, with the freezing orders remaining in place, on several occasions.

Mr Conlon whose family home is in Ballsbridge, Dublin, was jailed in Switzerland last November after he pleaded guilty to embezzlement there to using almost €4 million – intended for charities – to fund his technology company.

He was jailed for four years, with three suspended and, as he had already spent a year in prison before the trial, was released on December 22nd.

The liquidator’s action will return before the courts in late November.

Latest Stories