Courts / Dublin / Report
Jail for Dublin man who stole €178k through pyramid scheme
Summary
Eamon Shield, 45, of Lucan, was found guilty by a jury of 25 counts of theft and deception after a two‑week trial in the Dublin Circuit Criminal Court. He ran a pyramid scheme from June 2011 to February 2012, promising investors a 100 per cent profit within 60 days by buying repossessed cars and flipping them. Shield advertised in national newspapers and received between €3,000 and €70,000 from 12 investors. He returned €32,000 to the investor who paid €70,000, but all 12 investors were left out of pocket. Shield had a prior deception conviction in 2005 and 23 road traffic and two public order convictions. Judge Patricia Ryan sentenced him to four years' imprisonment, ordering €20,000 in his account to be divided among the victims.
Who, what, where, when and why
What: Report matter: Jail for Dublin man who stole €178k through pyramid scheme. Procedural stage: sentence. Findings: Found guilty
When:
- June 2011 Hearing Or Sentence
- February 2012 Hearing Or Sentence
- 2016-07-29 Publication
Case subjects
Convicted Person
Finding: Found guilty
Outcome: Found guilty; His 12 investors gave him sums of between €3,000 and €70,000. "Each gave evidence to say they found him competent and persuasive," prosecuting barrister Shane Costelloe SC told Shield's sentence hearing today. "He said he had contacts in the repossessing car business, that he was going to buy repossessed cars with the capital supplied by the investors and would flip these cars as soon as possible, providing them with a 100 per cent return in 60 days." However, Shield's name was not on the register for the financial institution that dealt with selling repossessed cars, Mr Costelloe said. She handed down a four-year sentence and said €20,000 that was left in Shield's account would be divided amongst his victims.
Places mentioned
- Dublin
- Dublin Circuit Criminal Court
Topics
Fraud Public Order Road Traffic Stage Sentence Theft
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