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Updated 8am
TWO MEN HAVE been arrested over investment fraud offences and money laundering offences involving up to €5 million.
The alleged fraud relates to an investment scheme in which the same plot of land was sold to multiple people and false documents were provided to investors. Sources say investors outside Ireland handed over tens of thousands of euro for the plots.
Both men, who are in their 40s, were arrested yesterday in Dublin and Wicklow and are currently detained at Dun Laoghaire and Bray garda stations. The man held in Bray is due to appear before Dun Laoghaire District court this morning charged in connection with the investigation.
As part of this investigation the Garda National Economic Crime Bureau has frozen a significant amount of money held in Irish banks.
Gardaí say investigations are continuing.
Comments have been closed as one of the men is due before the courts.
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They were arrested by the Special Branch!
@Danny G: you win. :D
When did they twig it?
I heard it was a root and branch collaboration.
The scam of selling forests you don’t own to multiple people has been around for a while… the Chinese crowd that tried it back in 2011 got away with over 200million.
have your say