Liquidator appointed to CHC after report

THE High Court has appointed a liquidator to investment fund management company Custom House Capital Ltd after two Central Bank inspectors found serious misuse by CHC of over €56 million of their clients’ assets and cash.

In their report the inspectors said this misuse of client’s assets was deliberately disguised through the use of false accounting entries and the issuing of false and misleading statements to clients.

CHC, which has about 1,400 clients, “deliberately adopted and pursued processes, policies and procedures that facilitated misconduct”, the report states.