Pyramid scheme operator agrees to order freezing assets at €20m

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.

Briefne O’Brien, of Inver-garry, Silchester Road, Glenageary, whose assets are alleged to include a house in Barbados, had within the last few days told Brian Quigley, a solicitor for several investors, that he had been “living a lie” for up to 15 years in relation to investments made for others, including long-time friends of his.

O’Brien had calculated his total liabilities to 11 people of between €16m and €19m, Mr Justice Peter Kelly heard.