Businessman agrees to repay €1.2m to investors

A BUSINESSMAN alleged to have apparently converted to his own use some investment funds intended for a property investment project in Budapest has agreed to repay €1.2 million to four investors in the project.

Richard Fitzgerald, of Rose Lodge, Blackrock, Cork, consented to the judgment while proceedings were adjourned to next week by Mr Justice Peter Kelly against estate agent William Mahony, of Cobh, Co Cork, concerning the same project.

The investors are Peter Clarke, of Mulberry House, Newbridge, Co Kildare, Brian Fallon, of Ladytown, Newbridge, Con O’Leary, Warrensgrove, Lissarda, Co Cork and Sean Bosco MacGearailt, of Greenane, Kenmare, Co Kerry.