Courts / Dublin / Report

Brothers claim they are victims of 'elaborate €1.2m fraud'

Date
2020-10-14

Stage
Hearing Or Decision

Primary locality
Dublin

County
Dublin

Summary

The High Court granted interim injunctions to brothers Gary and David McGuinness, who claim they are victims of an alleged €1.25m fraud by US-based David Morrisroe. Ms Justice Leonie Reynolds ordered that Mr Morrisroe be restrained from dissipating assets valued below €1.25m and must provide information on his worldwide assets. The applicants allege that in 2015 and 2016, they invested funds with Mr Morrisroe for Irish and European property and precious gems, but believe no such investments were made. Gary McGuinness stated that information provided by the defendant was largely untrue, including claims about specific properties in Meath and Dublin. David McGuinness alleged that funds transferred for a diamond deal in Kenya were instead used to repay a third-party debt owed by the defendant. The brothers reported the matter to An Garda Síochána. Mr Morrisroe was put on notice of the proceedings but did not attend court, nor were representations made on his behalf. The applicants are seeking orders directing the repayment of monies. The matter was adjourned and will return before the court in two weeks' time.