Gardai investigating a complaint by a couple who invested £150,000 with a Cork broker have seized documents from the broker's office and are waiting to interview him, it emerged yesterday.
Members of the Garda Bureau of Fraud Investigation searched the office premises of Mr Andrew Casey - trading as Andrew Casey Life and Pensions - in Patrick Street, Cork, earlier this week.
They carried out the search after obtaining a warrant in Cork District Court last week on foot of a complaint by a couple who had entrusted £150,000 to Mr Casey for investment.
According to Garda sources, the couple became concerned after another couple, Mr Liam and Ms Ide Ui Draighneain, obtained an exparte circuit court injunction against Mr Casey preventing him reducing his assets in the State below £35,000.
Mr and Mrs Ui Draighneain told Cork Circuit Court on July 16th that they had entrusted £28,500 to Mr Casey for investment with Irish Life but, when they contacted Irish Life, they found it had no record of the business being transacted.
On July 29th, Mr and Mrs Ui Draighneain were granted a judgment by Judge John Clifford ordering Mr Casey to pay back £70,000 that they had invested with him. Mr Casey was represented in court and consented to the order.
According to Garda sources, the second couple became concerned about their investment and when they found no record of the investment with the relevant companies, they made an official complaint to the Garda Bureau of Fraud Investigation.
A further six clients of Mr Casey have also contacted the Garda Bureau of Fraud Investigation about investments totalling almost £100,000 but they have not made any formal complaint. A Garda spokesman confirmed they were waiting to interview Mr Casey about the complaint from the second couple. It is understood their investment was spread across a number of companies.
Meanwhile, the Irish Brokers' Association has suspended Mr Casey after he twice failed to attend disciplinary hearings last month to answer allegations over missing funds. Mr Casey told the IBA he was too ill to attend both hearings.
However, the IBA has again requested Mr Casey to attend a disciplinary hearing on August 18th to answer allegations over missing funds. Irish Life and Permanent has also cancelled its agency with Mr Casey.
