A 51-year-old Donegal man has been jailed for five years for acting as an investment business firm without authorization and deceiving clients of money.
Thomas Elvin of Meencargagh, Ballybofey, who set up a company called Pear Shaped Resources, was found guilty in December of 26 charges after a five-day trial.
The charges related to seven people who invested a total of €177,000 with him.
His barrister, Desmond Murphy, described him as a God-fearing, bible-loving small farmer who only wanted to make money so that he could do good works.
He said there was no evidence he benefited personally from the misappropriation of monies.
The trial heard that Elvin offered interest of 20% after 40 days on money invested with him.
Sentencing Elvin today, Judge John O'Hagan said this was an elaborate, sophisticated and deliberate deception of people.
He said it was ironic that the company attracted the name Pear Shaped Resources because he said that is exactly what happened the money - it went pear shaped.
He sentenced Elvin to five years each on 12 charges and three years each on 14 charges, totalling 102 years.
Elvin also pleaded guilty to a further two charges involving investments by a woman of Stg£20,000 and €12,000.
Judge O'Hagan imposed five jail terms in both counts bringing the total sentence to 112 years.
However, these will all run concurrently so Elvin will serve a maximum of five years.
