Man seeks freezing orders against financial advisor and two companies
A Dublin man is seeking freezing orders against a financial advisor and two of his companies over his alleged failure to return €159,000 advanced to him as an investment.
The action has been taken by Jamie Murphy who claims that James Doherty trading as Demvera Capital partners has allegedly used the money advanced in 2017 for his own personal use.
Fearing that the monies might be dissipated, he now seeks an order from the High Court freezing assets of James Doherty trading as Demvera capital Partners, with a registered address at Serpentine Business Park, Serpentine Avenue Ballsbridge Dublin 4.
The proceedings are also against another related company Demvera Trust unlimited Company, with an address at Burnfoot Business Park, Main Street, Burnfoot, Co Donegal.
In his action, Mr Murphy seeks orders including that the defendant's assets, including two bank accounts, cannot be reduced beneath a value of €159,000.
Mr Murphy of St Annes Park, Quinn Road, Shankill Co Dublin also claims, despite hiring a private investigator, Mr Doherty cannot be located, although he is believed to somewhere in the UK
At the High Court on Tuesday Eugene Gleeson SC, appearing with Alanna McGurk BL for Mr Murphy said his client advanced some €159,000 to Mr Doherty in 2017.
Mr Murphy was introduced to Mr Doherty, who represented himself as an accountant and a financial advisor, by a friend of the plaintiff who also knew Mr Doherty.
The money, which came from a trust fund and personal savings. was to be invested in a firm that provides home care to those with disabilities.
Counsel said it appeared the money was allegedly never invested with that company. His client had sought explanations from Mr Doherty.
When proper explanations were not forthcoming his client sought the return of the investment, counsel said.
Counsel said meetings had been arranged with his client and Mr Doherty but had been cancelled by Mr Doherty.
Counsel said Mr Doherty had given excuses including his ill health as a reason for not returning the monies.
Counsel said that following a search his client could not find Mr Doherty listed as a member of any registered accountancy bodies in Ireland Northern Ireland and the UK.
Counsel said while Mr Doherty is believed to be in the UK a private investigator hired by his client had failed to locate him.
As a result, counsel said Mr Murphy fears that he may be the victim of a fraud and that Mr Murphy has no intention of returning the monies.
The matter came before Ms Justice Leonie Reynolds on Tuesday.
The judge, on an ex parte basis, granted Mr Murphy's lawyers permission to serve short notice of the proceedings aimed at freezing the assets on the defendants.
The matter will return before the court later this week.
