Gardaí monitor Coughlan’s accounts

GARDAÍ are checking bank accounts belonging to fugitive developer Greg Coughlan in an effort to trace his whereabouts.

They’re also continuing to monitor Coughlan’s luxury home at Fastnet, Ardbrack, Kinsale, Co Cork, but to date there has been no sign of the businessman, who owes more than €28 million in unpaid loans.

Garda sources say they are also keeping an eye on a house Coughlan is believed “to have access to” in the Ballydehob area of west Cork.

However, he hasn’t shown up there either and speculation is mounting that he may be staying in either Spain or Portugal.

Gardaí are understood to be liaising with Europol and are also monitoring ports and airports should the businessman return to this country.

A little over a week ago the High Court said Gardaí could forcibly enter Coughlan’s Kinsale home if they needed to detain the developer.

The order was given by Mr Justice Peter Kelly after Coughlan failed to obey court orders aimed at executing a judgement against him for unpaid property loans.

Mr Kelly said he was satisfied that the developer was evading arrest and he would not have Coughlan “thumbing his nose” at court orders.

The judge said an order for the arrest of Coughlan, who is in his 60s, would remain in force until it was executed.

He also said he hoped Coughlan would “see sense” and realise there was nothing to be gained by playing cat and mouse with the court which was determined to see its orders obeyed.

The developer, who is a native of Ballydehob, failed to swear an affidavit of his assets as ordered by the court after proceedings were brought against him in the Commercial Court by investors.

The statement of assets had been sought by Loparco SA, a Luxembourg-registered company.

Coughlan is chief executive of Howard Holdings plc, which initially carried out developments in London, before expanding its portfolio in Liverpool, Newcastle, South Africa and Ireland.