A receiver appointed over certain assets of convicted fraudster Breifne O’Brien, whose creditors are owed some €12.8m, is hoping to secure over $400,000 from O’Brien’s interest in a US company, the Commercial Court has heard.

A COURT yesterday paved the way for Anglo Irish Bank to sell off the assets of alleged pyramid scheme operator Breifne O’Brien in a bid to reduce his alleged €13 million borrowings to the bank and its subsidiaries.

TWO more claims have been brought against alleged pyramid scheme operator Breifne O’Brien for the repayment of monies given to him to invest.

CORK-born businessman Breifne O’Brien is to face a Garda investigation over allegations that he operated a pyramid scheme that defrauded clients of millions of euro.

A MAN said to be involved in the taxi business, who allegedly operated a pyramid investment scheme over 15 years, misappropriating millions to fund his lifestyle and business interests, has agreed to a court order restraining him from reducing his assets below €20 million.