Courts / Dublin / Report
Forestry scheme fraudsters jailed
Summary
Two men were jailed at Dublin Circuit Criminal Court on 29 July 2019 following their convictions for defrauding over 140 foreign investors of approximately €5.5 million through Arden Forestry Management between January 2014 and mid-2016. Garret Hevey, described by the court as the scheme's architect, pleaded guilty to dishonestly inducing investment and making deceptive payment requests. David Peile, who joined the company in 2015, entered similar guilty pleas. The fraud involved misrepresenting forestry investment opportunities, with investors led to believe their funds would purchase land generating returns through government grants and forest harvesting. In reality, the company owned only 30 acres when investigated, insufficient to service the claimed 858 acres of investor holdings. Judge Melanie Greally characterised the offence as calculated fraud, noting significant harm to victims, many of whom had invested for their children. Hevey received five years imprisonment with the final year suspended, while Peile was sentenced to four years with one year suspended. The court heard that €1.98 million remained in company accounts when frozen by gardaí.
Who, what, where, when and why
What: Report matter: Forestry scheme fraudsters jailed. Charges or matters: dishonestly inducing investment in Arden FM between January 1, 2014 and June 13, 2016; three charges of inducing individuals by deception to make payments on dates between September 2015 and May 2016; dishonestly inducing investment in Arden FM between January 1, 2014 and June 13, 2016 and pleaded guilty to two charges of inducing individuals by deception to make payments on dates between September 2015 and May 2016. Procedural stage: sentence
When:
- January 2014 Hearing Or Sentence
- June 2016 Other
- February 2016 Other
- May 17, 2016 Hearing Or Sentence
- November 2013 Other
- January 1, 2014 Hearing Or Sentence
- June 13, 2016 Hearing Or Sentence
- September 2015 Hearing Or Sentence
- May 2016 Hearing Or Sentence
- 2019-07-29 Publication
Case subjects
Convicted Person
Charges: dishonestly inducing investment in Arden FM between January 1, 2014 and June 13, 2016; three charges of inducing individuals by deception to make payments on dates between September 2015 and May 2016; dishonestly inducing investment in Arden FM between January 1, 2014 and June 13, 2016 and pleaded guilty to two charges of inducing individuals by deception to make payments on dates between September 2015 and May 2016 (Admitted)
Plea: Guilty
Outcome: Credit: Collins) By Declan Brennan and Fiona Ferguson Two Dublin men have been jailed for a fraud in which they induced dozens to invest over €5m in a forestry investment scam. Judge Greally imposed a sentence of five years imprisonment on Hevey with the final year suspended and a sentence of four years with one year suspended on Peile.
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