Courts / Dublin / Report
Directors of foreign real estate company are jailed
Summary
Two directors of a real estate company have been imprisoned at Dublin Circuit Criminal Court following guilty pleas to defrauding clients. Sean Boylan, aged 72, of Cootehill, County Cavan, and Colin Horan, aged 38, of Dun Laoghaire, County Dublin, were convicted of carrying on the business of a company with intent to defraud creditors between June 2012 and July 2015. The company operated by selling properties in Bulgaria and Turkey to Irish clients, but failed to remit sale proceeds. Of fourteen victims, all but one had their properties sold without receiving payment. Boylan received a three-year sentence with the final six months suspended, while Horan received two years and eight months with the final six months suspended. The court heard that approximately €670,000 remained owed to victims, with Horan having reimbursed over €100,000. Judge Elma Sheahan described the accounting practices as chaotic and haphazard, noting the offending had caused lasting harm to complainants beyond monetary loss.
Who, what, where, when and why
What: Report matter: Directors of foreign real estate company are jailed. Charges or matters: two counts of carrying on the business of a company with intent to defraud the creditors of the company on dates between June 1, 2012 and July 31, 2015. Procedural stage: sentence
When:
- June 1, 2012 Hearing Or Sentence
- July 31, 2015 Hearing Or Sentence
- 2021-05-07 Publication
Case subjects
Defendant
Charges: two counts of carrying on the business of a company with intent to defraud the creditors of the company on dates between June 1, 2012 and July 31, 2015 (Admitted)
Plea: Guilty
Outcome: Following a sentencing hearing this week, Boylan was jailed for three years and Horan was jailed for two years and two months. She sentenced Horan to two years and eight months imprisonment, but also suspended the final six months of the sentence.
Defendant
Charges: two counts of carrying on the business of a company with intent to defraud the creditors of the company on dates between June 1, 2012 and July 31, 2015 (Admitted)
Plea: Guilty
Outcome: Judge Sheahan sentenced Boylan to three years and six months imprisonment, but suspended the final six months of the sentence. While passing sentence, Judge Sheahan said a fact which the court notes as "troubling" is that an offer of payment was made by both accused to a different individual should they deny wrongdoing by the accused.
Places mentioned
- Dublin
- Dublin Circuit Criminal Court
- Cootehill
- Cavan
- Marine Terrace
- Dublin
- Monaghan town
Topics
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