Viper’s debt collection firm in profit

THE debt collection firm owned by former criminal Martin “The Viper” Foley is turning a profit, according to its latest accounts.

Crumlin, Dublin-based Viper Debt Recovery and Repossession Service is a relatively new operator in the market. Latest accounts filed for the year to September 30, 2009, show a turnover of €65,509.

Operating profit was €23,680 after administrative expenses of €41,829. Shareholders’ funds amounted to €23,682 in the year.

The company employed three people in the year. Directors are listed as Martin Foley, Troy Jordan and Sonia Doyle. The accounts show that directors’ salaries came to €12,285, while motor and travelling expenses in the year were €18,235 in the year. The directors do not propose to pay a dividend. The accounts say that the principal activity of the company is that of providing debt recovery solutions.

A few years ago, Mr Foley’s company was named in the Oireachtas by the then Fine Gael justice spokesman Charlie Flanagan.

He said: “One particularly well-known criminal drug trafficker, Martin Foley, glories in his criminal connections. He has used his criminal moniker as part of his debt collection company’s title, Viper Debt Recovery and Repossession Service Limited,” he added.

Mr Foley has more than 40 previous criminal convictions. He set up Viper Debt Recovery and Repossession Service Limited in 2006.