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Irish investments were channelled to German group through special-purpose vehicles
Charles Smethurst
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MUT 103 raised cash for German Property Group and owes €41m to investors
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Irish investors only entitled to 10% of Germany site assigned as main security for loans
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Directors ‘deny any wrongdoing in how investor funds were used’ – spokesman
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Watchdog lodges papers with High Court against Wealth Options Trustees Limited
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Delay by directors in responding to questions ‘unsatisfactory’, liquidator tells investors
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Company formerly known as Dolphin Trust has taken €1.5bn from investors since 2008
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‘Regulatory failure of dramatic nature’ after property firm went bust owing €3 billion
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Firms with clients affected by collapse of GPG have come together to deal with liquidator
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Over 20,000 investors in total committed savings into Charles Smethurst’s GPG
Germany Property Group collapsed last year after raising €107m from Irish investors
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