Donegal HIT By another scam

Declan Magee

Reporter:

Declan Magee

Investors in Donegal have fallen victim to another investment which could have cost them millions of euro.

Investors in Donegal have fallen victim to another investment which could have cost them millions of euro.

Police forces across Europe are searching for those behind the currency investment scam which was run from Barcelona.

The scheme was recommended to investors here by Letterkenny-based financial consultant, Mark O’Sullivan who runs O’Sullivan Financial.

The Irish Independent has reported that clients have lost up to €250,000 after investing in the scheme despite a guarantee they would never lose more than 15 per cent of their investment.

Mr. O’Sullivan was not contactable yesterday, but he is reported to be devasted by what happped. The investment scheme was being run by British and Dutch nationals based in Barcelona and cash deposited by Irish investors was sent to an account in a bank in the Slovak capital Bratislava.

It is the latest scheme that has involved Donegal investors to emerge recently. Last December Thomas Elvin of Ballybofey was found guilty of defrauding seven clients of almost €180,000.

READ MORE IN TODAY’S DONEGAL DEMOCRAT AND DONEGAL PEOPLE’S PRESS.