A Cork developer has been ordered to pay €1.57m damages over fraudulent misrepresentation, deceit and misappropriating large sums out of $50m (€37.7m) paid to his companies for a luxury hotel and resort in the Caribbean which was left unfinished.

A Cork developer unlaw-fully diverted over $13m (€9.6m) for his own benefit from $50m funds paid towards the completion of a luxury resort in the Caribbean, it has been claimed in the High Court.