ALLEGATIONS OF fraud against a mortgage consultant had been withdrawn by his former employer, a court heard yesterday.
Barrister Jim Phillips told the Circuit Civil Court that Séamus Sutcliffe, trading as The Mortgage Shop, Bachelors Walk, Dublin, had withdrawn claims that Derek Ryan had fraudulently concealed and kept commission for himself.
During a two-day hearing, Mr Sutcliffe claimed damages against Mr Ryan, of Baltrasna House, Spencer Dock, Dublin,
Circuit Court president Mr Justice Matthew Deery, rejecting Mr Sutcliffe’s claim, said blame for sales and commission losses at The Mortgage Shop early last year had mistakenly been placed at Mr Ryan’s door.
He said that in February and March of last year the country was facing a financial downturn which was most likely responsible for a €15,000 monthly drop in mortgage sales commission rather than through any fault of Mr Ryan.
Judge Deery rejected allegations that Mr Ryan, having ended his employment with Mr Sutcliffe in March 2009, had sought to poach clients from The Mortgage Shop. Mr Phillips, who appeared for Mr Ryan, said his client had been on the dole after having left The Mortgage Shop because of unhappy differences.
He said Mr Sutcliffe’s initial claim clearly amounted to an allegation that Mr Ryan had defrauded The Mortgage Shop but this allegation had been withdrawn early in the case.
The court reserved a decision on the question of costs.