Developer tells trial he "freaked" when contact knew nothing of loan

A developer told Dublin Circuit Criminal Court on the eighth day of evidence that he "freaked straight away" upon discovering that a man presented as a prospective financier knew nothing of his Portuguese construction project. Frank Gleeson, testifying in the trial of Simon Gold (54), of Augharan, Aughavas, County Leitrim, recounted seeking a bridging loan after failing to secure funding through conventional channels. He stated that Gold had agreed to arrange £3 million in financing in exchange for a £30,000 deposit, which Mr Gleeson and business partners transferred to an account in the name of Belgravia Consultants UK Ltd. Mr Gleeson said he subsequently met the proposed investor in London, who demonstrated no knowledge of the project. When the deposit was transferred despite his objections, Mr Gleeson said he pursued the matter and later established that Gold used alternative names. He recovered only £10,000 of the £30,000. Gold has pleaded not guilty to twenty-two charges including money laundering, theft, deception and control of false instruments allegedly committed between January 2010 and October 2012.