Bank begins to repay up to €100,000

AIB BANK has begun repaying up to €100,000 to thousands of people stung by the failed businessman behind the Winter Wonderland visitor attraction at the Curragh.

All customers who booked tickets using any form of credit card are being paid back over the coming days.

But anyone who paid by cheque faces a longer wait and the prospect of never recouping their investment in the failed Lapland-style attraction which was due to begin within a fortnight.

“AIB bank’s exposure to all credit card companies comes to less than €100,000,” a spokesman for the bank said yesterday. While other customers may have booked with Bank of

Ireland, Permanent TSB, MBNA or other cards, AIB as the acquiring bank for the venture, is charged with repaying customers.

The owner of the company, Adrian Smith, is staying with his wife’s family in west Sussex since he left his home over a week ago.

Mr Smith claims he has not gained from the project. He said the money was being held by the credit card companies. But he made no references to cheques sent by many others, several of which have already been cashed.

“I have lost everything. I haven’t a penny,” he said. “I never had a penny of their money. There is no money. The credit card payments were never charged. I have ploughed all my personal money into this business.”

Detectives from the Garda Bureau of Fraud Investigation say they are aware of Mr Smith’s whereabouts and have spoken to him by phone. Technically, he has done nothing wrong, even though thousands of people have been left out of pocket. He may return their money which was paid by cheque and postal orders.

The Tullamore-born businessman is due in court on November 25 as the Irish Nationwide seeks repossession of his home, Killenure Manor, Co Laois. It is worth an estimated €1 million.