An investor from Co Cork has petitioned the High Court to wind up an Irish firm owned by collapsed German property company Dolphin Capital. More than €1bn had been pumped into the German firm by backers, many of them regular workers with small pensions and savings pots. Dolphin Capital, which along with other associated companies is also called German Property Group, offered investors eye-watering returns by refurbishing and repurposing listed properties in Germany. Germany Property Group is now being probed by investigators in the UK and Germany for alleged crimes including embezzlement. Kathleen Dineen, of Rosewood in Ballincollig, Co Cork, is a creditor of Irish firm MUT 103, which is controlled by Dolphin Capital.

Source: Irish Independent January 07, 2021 02:26 UTC