Judge freezes ac­counts of fi­nan­cial ad­viser

The Irish Times - Business - - BUSINESS NEWS - MARY CAROLAN

The High Court has granted ac­count freez­ing or­ders against a fi­nan­cial ad­viser and two of his com­pa­nies over an al­leged fail­ure to re­turn €159,000 ad­vanced in 2017 for in­vest­ment.

Ms Jus­tice Leonie Reynolds granted the or­ders to Jamie Mur­phy who claims that James Do­herty, trad­ing as Demvera Cap­i­tal Part­ners, has used the money for his own per­sonal use.

Mr Mur­phy, rep­re­sented by Eu­gene Glee­son SC, se­cured the or­ders against James Do­herty, trad­ing as Demvera Cap­i­tal Part­ners, with a reg­is­tered ad­dress at Ser­pen­tine Busi­ness Park, Ser­pen­tine Av­enue, Balls­bridge, Dublin 4.

Demvera Trust

The in­junc­tion was also granted against a re­lated com­pany, Demvera Trust un­lim­ited com­pany, Burn­foot Busi­ness Park, Main Street, Burn­foot, Co Done­gal. The or­ders pre­vent the de­fen­dant re­duc­ing his as­sets, which in­cludes sums held in two bank ac­counts in Co Dublin and Done­gal, be­neath a value of €159,000. The judge also or­dered that Mr Do­herty pro­duce a list of all his as­sets within four weeks. Mr Mur­phy, of St Anne’s Park, Quinn’s Road, Shankill, Co Dublin, has claimed, de­spite hir­ing a pri­vate in­ves­ti­ga­tor, Mr Do­herty can­not be lo­cated and it is be­lieved he is some­where in the UK.

Mr Glee­son said Mr Mur­phy was in­tro­duced to Mr Do­herty, who rep­re­sented him­self as an ac­coun­tant and a fi­nan­cial ad­viser and had ad­vanced €159,000 to him in 2017. The money came from a trust fund and per­sonal sav­ings and was to be in­vested in a firm pro­vid­ing home care but was never in­vested, coun­sel said.

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