The jury in the trial of former solicitor Michael Lynn has failed to agree a verdict.
Mr Lynn, who is from Red Cross in Co Wicklow, had pleaded not guilty to 21 counts of stealing almost €30 million from seven financial institutions in 2006 and 2007.
The 53-year-old had been accused of getting multiple mortgages on the same properties without the knowledge of the institutions.
Before they began considering their verdicts, the 13 jurors had to be reduced to 12.
An expanded jury of 15 had originally been sworn in to hear the case because of its length, but only 12 jurors can consider verdicts.
The jury in this case had to decide if Mr Lynn deceived the financial institutions when he took out multiple mortgages on Irish properties intending to use the money for property development overseas.
Mr Lynn gave evidence in his defence that the institutions were all aware of what he was doing and that he had arrangements with senior people in all the banks who knew he was using the money for his developments in places such as Portugal and Hungary.
He claimed it was a way for the banks to make money out of him and to get around the fact they were not able to lend for developments abroad.
He said documents produced by the banks did not reflect the reality of his relationship with them.
The prosecution said his story was a fabricated pack of lies.
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Judge Martin Nolan told the jury they had to decide whether this was a fraud perpetrated by Mr Lynn or a charade by Mr Lynn and the banks.
In the end, they could not agree on a decision. After more than 12 hours, they sent a note to the judge to say they could not reach a verdict on which at least ten of them agreed.
Prosecution lawyers asked for the case to be mentioned on 20 June in order to get instructions from the Director of Public Prosecutions.
Lynn made no reaction when the jury said it was unable to reach a verdict. He was remanded on continuing bail.