MAN ON €58,000 FRAUD CHARGE

Complainant claims he believed he would get grants from forestry deal

A BRAY man was one of two individuals arrested on Monday in connection with alleged investment fraud and money laundering offences. David Peile (40) from Rectory Way in Bray was before Dun Laoghaire District Court yesterday charged in relation to the investigation.

The UK native was accused of deceiving a person to invest over £50,000 (€58,000) in Forestry Ireland. Peile was granted bail with the matter adjourned to a date in March. Peile was arrested at his Bray home by gardai from the Garda National Economic Crime Bureau (GNECB). He is accused of deceiving a Swedish man, Kari Wahlstrom, out of £52,000. The court heard that the complainant alleged that he invested in forestry believing he would own the land and get Government grants.

A second male in his 40s detained at Dun Laoghaire in relation to alleged investment fraud and money laundering offences involving up to €5 million was due to appear before The Criminal Courts of Justice yesterday (Tuesday) afternoon charged in connection with this investigation.