Man arrested in Cork in relation to alleged €400k bogus share scheme fraud

The alleged defrauding of a foreign national of more than €400,000 in a bogus share scheme has led to the arrest of a man in Cork.

His apprehension came as part of a series of arrests in a Garda operation targeting organised crime gangs and known offenders.

The Irish Examiner understands that in January 2017 the alleged victim, a European national, paid in excess of €400,000 for share options that he never received.

A man in his sixties was arrested in Cork on Tuesday in relation to the alleged fraud incident and detained at Cobh Garda Station under Section 4 of the Criminal Justice Act, 1984.

He was later released without charge and a file will be prepared for the Director of Public Prosecutions.

The arrest was one of five to occur as part of an Operation Thor Day of Action in the Midleton area on Tuesday.

In other separate arrests, two men were apprehended in relation to a public order incident where a Garda was assaulted in Midleton on Sunday October 20 last.

They were detained at Cobh Garda Station under Section 4 of the Criminal Justice Act, 1984.

Another man who was arrested on suspicion of drug driving was also detained at Cobh Garda Station.

All three men have since been released and files will be prepared for the DPP.

Separately, a man was arrested on foot of a bench warrant and has since appeared before the courts.

As part of the day of action, multi-agency checkpoints were carried out in Knockgriffin, Castleredmond, Midleton, Tullagreine and Carrigtwohill with the assistance of Revenue Customs Officers and Road Safety Authority (RSA).

Meanwhile, five vehicles were seized by Gardaí for no tax/insurance, and a number of fines were issued for speeding, holding a mobile phone while driving, and not wearing a seat belt at checkpoints in the Midleton area.

Customs detected four vehicles with suspected green diesel and the RSA had several detections on both heavy and light goods vehicles.