RTE Investigates [RTE 1]

David Hall, Investigating 🙄 this chap has an obsessive Penchant for publicity, I see he's now getting involved, using a private investigator through His "Irish Mortgage Holders Association" to try and track down Careys assets 🙄 almost as ludicrous as the scam itself.

I've been watching this character over the years, who seems to think he's the patron Saint of Distressed Mortgage Holders. He is certainly not and in essence and along with his very profitable Private Ambulance service, essentially runs an even more profitable Housing agency.

I'd wager the vast majority who dealt with his organisation have infact, ended up being Tenants in their former homes, which his "Irish Mortgage Holders Association" Now own"

The organisation should infact be called

"Former Irish Mortgage Holders Association"

This is nothing more than yet another Publicity Stunt by David Hall.

I have to respectfully disagree.

It's more likely and probable these victims were in serious arrears and not paying their mortgages prior to the Catriona Carey introductions, indeed I suspect imminent repossessions were likely (albeit the process takes years) in most of the cases.

If the victims were engaging, perhaps paying interest only or a portion of mortgages to their lenders, it's unlikely they would have faced imminent repossessions.

Also, those for example going through a mortgage resolution process don't stop paying whilst the resolution being worked on.

Of course its likely Carey "Suggested" and once she got involved, to these individuals to stop paying, but honestly I doubt it and some had, I believe stopped paying long before her involvement IMO

she's got to be sick in the head, a personality disorder of some kind - sociopath coupled with narcissism ?

she'd be a classic case study for any budding psychiatrist out there

That's a little mixed up.

His businesses went bust and the total deficit on the three entities was 1.7m. 600k was owed to DJ and about 150k to Newman

There was misappropriation of 200k being investigated but it is suspected that it was multiples of that.

Separate to the business were property investments and these turned sour. Full details were never disclosed, but the judgements were circa €9m

Must be some interesting family get togethers in that household

She wouldn't be the best role model off the sporting field

Sarah Newman , I suspect regrets the day she met DJ , Her downfall was primarily going guarantor on nearly €8 million in personal loans DJ took out, mostly towards the cost of the Swiss chalet but also for other ventures.

I Believe she got €30 million out of the sale of needahotel.com and its staggering the over all losses she incurred. Her ex husband also had a claim over various assets .

Investing in her fiancee's dealings showed her business acumen was...lacking.

Tbf tho, many of the businesses they invested in went bell up (not just hers, but one or two that I knew of). There was cheese company that two of the dragon's invested in, saw the cheese in a few supermarkets, but I never purchased it. My brother did, and said it was far too salty.

That has seemingly disappeared. I don't see it in any supermarket since. Another product, Surf Seeds, was pretty tasty. But it was a tad too pricey, unfortunately. Did help me once with chatting up a cute girl, tho. So not all bad. ;)

There's been some debate about whether Revenue would be interested due to the company being registered in the UK. The fact of the matter is the company's place of effective management was Ireland and its "trade" was conducted in Ireland so Revenue would be very much interested in it for Corporation Tax. The company has an income (albeit a fraudulent one) and no legitimate expenses to offset that income so would have a hefty CT liability plus interest and penalties (assuming that no or nil returns have been filed to date).

In addition, the amounts used for personal expenses are a deemed directors loan on which interest must be paid at 13.5% per annum or the it is a benefit in kind which attracts paye/prsi/usc. The company must also pay deemed income tax (at 20%) on the loan balance so if the figure of, say, 200K given was used then there is IT on directors loan due of 50K (200 x 20/80). It's fairly likely when Revenue examine this that a tax bill in the region of 50% of the amounts received will be owing. If the company can't pay it and Revenue gets a judgement then the next step is to remove the protection of limited liability and seek repayment from the directors. Carey will be looking at bankruptcy, at a minimum. Then there is the issue of carrying on a trade in a regulated industry without the required authorisation from Central Bank. There are numerous very serious charges here that should, if proven, carry significant sentences but the Irish courts history on punishing this kind of crime is, not particularly inspiring.

BMW - 131 , i doubt she was driving a car that 'old' ??

There's a big chunk of details missing here in my view. CC needed circa €200k plus cash to fund her lycra clad lifestyle. That's a lot of €100K loans at 6.5 per cent to service the debt and clear that much of a salary unless she was awash with cash from elsewhere.

I don't think too many adults believed that dragons den was a genuine investment vehicle. Half the dragons were deep in hock to the banks and one in particular would find it hard to lay his hands on €500 cash I would imagine.

Yes indeed, seems the Irish Dragons Jinxed

Since the story attached , she and hubby got a €400k please F**K off payment , €29k each in redundancy payments included in that, even the learned Judge overseeing the examinership of Cara Pharmacy questioned why this Wongo wasn't going to creditors .

If the customers opened any of the letters they were getting from their lender since 2013 onwards they'll have been informed about MABS on several occasions as the Code of Conduct on Mortgage Arrears requires mortgage lenders to include that information in arrears letters. That doesn't change if the loan is sold the new owner or their agent has to send those letters too.

It's too easy sometimes to put it all on the banks. They're far from perfect to say the least but if there's any kind of payment being made then there will be leeway as others have said on this thread in fairness.

There was also the story that came out in the lead up to the Presidential election he ran in. Some 18 year old was setting up a business and his dad seeked out Gallagher to ask for consultancy. Sean agreed to meet them and they paid 500 euro upfront but he showed up to the meeting a couple of hours late, only met them for 20 minutes and then made his excuses and left. The father said he felt like he'd been had.

Agreed on Gallagher as many holes in his story about the donation as a golf course. He did settle a case with RTE on the issue afterwards.

Gallagher had his first marriage annulled not an issue for me but he spent a lot of the presidential campaign portraying himself as a newly wed. One wonder's what else could have been omitted....

for I always thought there was a lot more to the Morgan story.

Morgan supplied fuel and transport to the last two SF presidential candidates.

^^^^^^^^^^^^

work of a deluded individual