UPDATED: COPS DO WANT TO QUIZ ETIC SOLUTIONS BOSS, SOURCES CONFIRM

first_imgUPDATED: COPS DO want to quiz Ballybofey-based French businessman Francois de Dietrich as part of an investigation into an alleged Ponzi investment scam, PSNI and Garda sources have confirmed.Earlier today de Dietrich, boss of Etic Solutions, claimed he isn’t wanted by the authorities.However sources have told us they do want to question him about the scheme – and about alleged breaches of a Northern Ireland High Court retraining order. Assets and cash valued at an incredible Stg£20.3 Million have been seized in the North as part of a cross-Border investigation into Mr de Dietrich.The shocking new figures were released as detectives in Donegal and the North join forces to investigate how at least 230 people – most of them from Donegal – handed over vast sums of money to the boss of Etic Solutions.Earlier this week donegaldaily.com posed the question – where is Francois?Today that is the question on the lips of at least five different police forces, two financial authorities and two sets of revenue investigators. Police believe Monsieur de Dietrich had run a scheme offering vast returns to investors, claiming he was buying and selling liquidated stock.However they don’t believe any stock existed – and that Mr Dietrich was in fact running a so-called illegal Ponzi scheme.In November Gardai raided offices at the Bastille Bistro in Letterkenny, Mr de Dietrich’s home and offices in Ballybofey.By that stage the Financial Services Authority in the North had sought and won a High Court injunction, preventing Mr de Dietrich from procuring any more funds for his scheme.A judge also granted an order freezing assets then worth £6M. Mr de Dietrich is alleged to have breached the judge’s order and three weeks ago the High Court ordered his immediate imprisonment.He has been ordered to appear before the court again next week. Meanwhile cops and the FSA UK have frozen more accounts in five different banks containing £14M – taking the total over £20.2M.The news will not surprise too many people in Donegal.Some associates of the French businessman had been telling investors that their money will be returned soon. However the fact that the authorities have managed to recover so much money will mean that all is not lost for investors.Tonight a well-placed source in the North told us: “The final tally of cash could be in excess of £50M between Northern Ireland, the Republic, Germany and other countries.“I suppose the big question will be how many of these investors will come forward to put in a claim for money after any criminal trial. We do believe that some of these investors have put in money that they may not have necessarily declared to the taxman.”Donegaldaily.com now been given a list of names of investors.Many are well-known business people from every part of Donegal. One is waiting on €1.4M plus his interest.Agents of the scheme – two of them well known in the county – were not available for comment. They are being treated as innocent parties by cops.We will endeavour to get their side of the story today. Their details are with the authorities.A Ponzi scheme is a fraudulent investment operation that pays returns to separate investors, not from any actual profit earned by the organisation, but from their own money or money paid by subsequent investors.It always collapses – and many people are usually left out of pocket.If £20M has been seized, it is possible that this scheme could involve three times that amount.Having taken so many investments from Donegal people, it is understood a number of Derry business people were also asked to invest in recent months.Mr de Dietrich had sponsored City of Derry rugby club.Last night one Derry investor told us: “I only realised I may lose my money when I was told by a friend to log onto donegaldaily.com just before Christmas. It is still sinking in.“Hopefully I will get my small investment back, even if it takes a couple of years.”UPDATED: COPS DO WANT TO QUIZ ETIC SOLUTIONS BOSS, SOURCES CONFIRM was last modified: January 22nd, 2011 by gregShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more

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MOTORISTS URGED TO SHOP AROUND FOR PETROL AS 10C PRICE DIFFERENCE REVEALED

first_imgDONEGAL’S motorists have been urged to shop around for petrol and diesel after a survey found as much as a 10 cent difference locally between some garages for the price of a litre of fuel.With many garages around the county now topping the €1.50 a litre mark, motorists are feeling the pinch more than ever.Some are continuing to hike up the prices while others are trying to keep the prices as low as they can despite Government tax hikes. One of the cheapest places in the county and indeed the country for fuel is still Tinney’s Fuel Depot at Bonagee outside Letterkenny where a litre of diesel is still around €1.42.However other stations across the county are steadily putting the prices up and claim they have no choice because of rising costs including that at which they are buying the fuel from suppliers.However Conor Faughnan of the Automobile Association urged Donegal drivers to vote with their feet and to go to where the fuel is cheapest to fill up.“Donegal is a very large county and people drive long distances to work including across the border into Northern Ireland. “If people are doing a lot of mileage then they will need to shop around so they can save themselves some serious money.“The price of petrol and diesel is at an all-time high and it could go up even further.“If people continue to buy off the more expensive garages then there will be no sense in them dropping their prices to compete.“Motorists can’t bring the price of petrol down but we can make sure that garages see they must be competitive,” he said.For a full list of the latest prices for petrol and diesel at Donegal’s garages see www.pumps.ie EndsMOTORISTS URGED TO SHOP AROUND FOR PETROL AS 10C PRICE DIFFERENCE REVEALED was last modified: March 9th, 2011 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more

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Young chef bags Michelin Star Award

first_imgHighly esteemed Donegal chef Roisin Gillen and her team have bagged themselves Ireland’s prestigious Michelin Star Award of 2016!Roisin, a third year Culinary Arts student at Dublin Institute of Technology has recently been working with Andrew Heron and Damien Grey at Heron & Grey in Blackrock for the past eight months.With Roisin and Damien cooking up a storm in the kitchen, and Andrew looking after the Front of House, the restaurant has quickly established itself as one of Dublin’s greatest gems. Heron & Grey pride themselves on using local Irish produce and change the menu every two weeks!Damien first spotted Roisin at Broiche in Ranelagh when she was only in first year, and immediately knew she would be a great addition to his restaurant once opened due to her natural flare for the culinary arts.A busy woman, in first year after winning a Tabasco competition, she won a trip to Avery Island in Louisiana, and in her second year tutors chose her to represent DIT at a catering college just outside Toronto. We’re sure we’ll hear much more from this amazingly talented young chef.Well done Roisin from the team at Donegal Daily!Young chef bags Michelin Star Award was last modified: October 15th, 2016 by Elaine McCalligShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:BarnesmorechefDITdonegalheron and greymichelin star awardroisin gillenlast_img read more

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