More time given to compensate pyramid victims
Barry Hanrahan (34) had bank drafts totalling [euro]140,000 with him when he appeared at Cavan Circuit Court yesterday.
Hanrahan, formerly of Kilnavara Court, Cavan, and now living in Hackney, London, has pleaded guilty to 10 offences contrary to the Investment Intermediaries Act 1995.
They are that in Dublin, Meath and Cavan in 2001 and 2002, he acted as an investment business firm or broker without the authorisation of the Irish Financial Services Regulatory Authority.
The court was told that the losses involved in the scheme were [euro]542,000. Judge John O'Hagan adjourned the case until next March.
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