Court will hear case of investors claiming €4m fraud

Thirty-five investors who claim they were defrauded and lost more than €4m in an electronic-trading scam have had their case against an Irish-registered firm and four businessmen admitted to the Commercial Court.

The court heard the 35 among a potential 111 investors are suing Greymountain Management Ltd, in liquidation, its Dublin-based directors, Ryan Coates and Liam Grainger, and alleged shadow directors, brothers Jonathan and David Cortu, who are based in Israel.