“The fallout from the collapse of investment firm Custom House Capital (CHC) is sending shockwaves through Ireland’s elite. Barristers, solicitors and prominent sports stars were all roped in by the investment firm with promises of attractive returns.” — Irish Independent, Sept. 19, 2012
The Irish Independent is reporting that more than 1,500 investors may have plowed 500 million euros (approximately $650.7 million) into a now-collapsed investment firm known as Custom House Capital (CHC).
Senior judges were among the investors, the newspaper reports.
Authorities are investigating amid concerns that 90 million euros (approximately $117.12 million) was diverted in Ponzi scheme fashion to keep the scam afloat prior to its collapse, the newspaper reports.
Read the story in the Independent.