A father and son claim \u20ac130,000 they believed was being invested for them in Citibank was misappropriated in a sophisticated fraud, the High Court has heard.<\/p>\n
Paul McCarthy, from Graigcullen, Carlow Town, and his father Callaghan McCarthy transferred the money in March 2023 to a bank account held by a company through which Philip Andrews, of Clermont Manor, Blackrock, Co Louth, was the beneficiary, it is alleged.<\/p>\n
It is claimed that it was held out to the McCarthys that the money was being invested by an individual or individuals employed by Citibank.<\/p>\n
On Friday, Judge Siobhan Stack granted Jarlath Ryan, for the McCarthys, an order freezing the assets of Andrews and Pridolian below \u20ac130,000.<\/p>\n
The application was made with only the McCarthy side represented.<\/p>\n
In an affidavit, Paul McCarthy said that between March 10th and 27th, 2023, they made transfers to an AIB bank account number provided by the defendants, totalling \u20ac130,000.<\/p>\n
After the alleged fraud was discovered, just \u20ac393 was recovered, he said.<\/p>\n
Less than two months after making the payments, his solicitor wrote to AIB seeking details of the holders of the bank account they had paid the money to. However, he said AIB refused to provide the information and documentation sought, citing GDPR at one stage.<\/p>\n
The McCarthys had to initiate High Court proceedings against the bank and obtained an order in June last year for the information to be furnished. <\/p>\n
McCarthy said it was not until May this year that the full details required were furnished. It included information that identified Andrews\u2019 address and the fact that he was the beneficiary of Pridolian.<\/p>\n
The information also showed Andrews had other accounts in his name at AIB and that transfers were made to Bank of Ireland and Revolut accounts.<\/p>\n
The judge also granted short service of the proceedings on the other banks and said the freezing order would stay in place until the case returned next week.<\/p>\n","protected":false},"excerpt":{"rendered":"A father and son claim \u20ac130,000 they believed was being invested for them in Citibank was misappropriated in…\n","protected":false},"author":2,"featured_media":532009,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[7715,7863,16665,73,61,60,9689,8581,112],"class_list":["post-532008","post","type-post","status-publish","format-standard","has-post-thumbnail","category-sports","tag-aib","tag-bank-of-ireland","tag-carlow","tag-high-court","tag-ie","tag-ireland","tag-louth","tag-revolut","tag-sports"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/532008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=532008"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/532008\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/532009"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=532008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=532008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=532008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}