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Dolphin Trust founder claims to have been a director only ‘on paper’

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Liquidators accused Dolphin Trust's founder of reckless trading in the collapse of its property investment scheme

Charles Smethurst, the founder of Dolphin Trust, has said he was “simply a director on paper” of an Irish company that raised over €65 million in pension investments for the now-collapsed property investment scheme.

The German-British businessman made the comment in response to queries from liquidators who have accused him of reckless trading in High Court proceedings launched last week.

 

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