The scale of a Donegal based businessman’s ‘Ponzi’ scheme has been further revealed today by Pricewaterhouse Coopers.
Hundreds of people on both sides of the Irish border lost their money after investing with Francois de Dietrich.
Liquidators have spent 18 months trying to find the missing millions.
576 investors paid in £20.2m between them. Just £6m of investors’ money has been located.
To date, only 389 investors have come forward to make a claim, and they will share the £6m that has been located.
It works out at 20p for every pound they invested.
They are due to receive the payments from early next year.
However, 187 investors who have not yet come forward will not get any money back.
Those caught up in the scheme included a PSNI detective, gardai, accountants, solicitors, developers and members of the travelling community.
- Sun, 4 Jun 2023
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