The High Court has continued an injunction order, requiring a man who allegedly operated a 'pyramid' investment scheme for many years not to reduce his assets below €20m.
The court previously heard that businessman Breifne O'Brien, with an address at Silchester Road in Glenageary in Dublin, has calculated his total liabilities to be between €16m and €19m.
Breifne O'Brien was not in court for today's hearing. His barrister Gabriel Gavigan handed in a list of assets held by Mr O'Brien. He is currently the subject of proceedings by seven people who gave him money to invest and now want their money back.
These include a pensioner and his son who invested over €1m, two Tipperary brothers who invested over €4m and two other businessmen who both invested over €4m.
Their solicitor had previously told the court that Mr O'Brien told him he had been living a lie for many years relating to investments. He would allegedly pay back one investor with money from another.
Mr Justice Peter Kelly today continued an injunction until next week whereby Breifne O'Brien can not reduce his assets below €20m.
The court also heard that Mr O'Brien's wife Fiona Nagle is to seek an order varying the injunction so that she can access funds in a jointly held family account to pay ordinary day-to-day household expenses.
