a banking fraud with an investor's money

national | crime and justice | opinion/analysis

Thursday November 26, 2009 23:56

by jolo - pr

money misused and an investor defrauded

background to a serious fraud in Irish banking and investment

CORRUPTION IN IRELAND

According to “The Newfoundland & Labrador Newspaper,” “The Independent”:

“Corruption on an astonishing level seems to have been the norm among many of the most powerful politicians and business people in the country, and the story is far from over.”

It all started with Larry Goodman, Meat Baron, and now we have Gardai in Donegal, Politicians, Bankers, Business people and now the Legal Profession emersed in dubious cultures, see websites: www.crookedlayers.com & www.rateyoursolicitor.com.

The Independent tells how Ireland’s corruption tribunals came into being and says, “it’s fair to say our own government scandal looks petty in comparison.”

They are all found out in the end! No one can hide forever!!

This brings us to a High Court case in recent years involving the Cagney Family, First National Building Society, First Active plc, and others.

It would appear that the Judgement in this case was published in the Internet to do maximum damage to the Cagney Family. As the Judge in this case said “The only evidence that he found to be reliable in this case was the Bank Manager. He made genuine efforts to answer questions and he was not evasive in any matter put to him.”

Nothing could be further from the truth in the light of the facts and the papers we have in our possession.

From what was said at the hearing it was quite obvious that the Cagney Family invested a large sum of money in First National Building Society in the mid ninety’s.

This money was not put into the Cagney Family account. The High Court made an Order under Discovery that the transactions regarding this money had to be disclosed from the moment it was given to the Bank Manger and into what named account it was put in and all the transactions arising thereon. Arthur Cox & First Active plc (First National Building Society) refused to comply with this Order.

Two cheques for £118,000 approx. & £23,000 approx. were given to the Bank Manager to lodge into the Cagney Account. The Manager did not lodge the two cheques and said he put them in the system.

The Manager stated “The two cheques were put in the system and £100,000 was lodged to one account and £41,161 is allotted to the other. The system will automatically generate the description.”

It would appear from the evidence given in the High Court that there was a problem with documents provided by the Bank & the Legal team involved and which the Cagney Family pointed out in Court. From documents and Affidavits now in our possession it is quite clear that some were bogus, some were altered and falsified, even down to declaring a deceased lady signed documents three years after her death.

From the information in these documents it is quite clear that there is a serious case of injustice done. These documents were provided under Oath in Discovery by the Solicitors involved and First Active.

We are at present investigating every aspect of this case, which is very complicated due to the documents provided, some true, some false etc.

From what we have seen in the papers to hand, the dishonesty and corruption involved is appalling.

We will keep you fully informed as our investigation progresses.

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a banking fraud with an investor's money