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Dolphin s Cork spend included BMWs and gym gear
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Focus: Inside the Dolphin Trust debacle and those left burned
independent.ie - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from independent.ie Daily Mail and Mail on Sunday newspapers.
Two Irish directors of Cork-based Dolphin International Group were given loans by the company of €1.8m each before it was wound up in 2019, according to documents seen by the Sunday Independent .
The Cork company was a key part of the Dolphin Capital property investment scheme that took in more than €1bn from Irish, English and Asian investors over a decade before collapsing last year.
More than 1,800 Irish investors had put a total of €107m in the failed property venture though a network of 144 brokers.
The Sunday Independent has learned that Marc Reilly, who was a shareholder in and director of Dolphin IG, has since become CEO of Europe and Asia at J Streicher Global. The Dubai-based firm is the international investment arm of respected Wall St trading floor broker J Streicher & Co LLC.
When the Bundoran Open surfing festival and a north Mayo “beer barrel run” in aid of the Samaritans were sponsored by Wall Street firm J Streicher in 2019, the organisers of both events must have been delighted but somewhat surprised at their luck.
A Mayo GAA podcast also received sponsorship from the 111-year-old firm one of just five remaining specialist designated market makers now trading on the floor of the New York Stock Exchange.
The sponsorship boost had come about after a number of young business executives with links to the northwest took up senior executive positions at J Streicher Global, the Dubai-based international investment arm of the venerable New York trading firm.