80 investors owe €18m to bank after signing with accountant

A group of more than 80 investors have found themselves owing almost €18m to Bank of Scotland after signing over power of attorney to an accountant for an investment project.

The medics, dentists, business people and retirees all signed over the power of attorney to Alan Hynes when they placed money into a property investment fund called Tuskar Asset Management.

To make matters worse there is €3.1m in shareholder funds missing with Mr Hynes unable to account for their whereabouts.