Leader of mysterious trust, Charles Allen Snr, arrested

The leader of a mysterious trust, which thousands of debtors believed would protect €2bn worth of assets, has been arrested after moving into one of the properties signed into his organisation.

Charles Allen Snr, of Prior Park, Inistigoe, Kilkenny, was discovered in an outbuilding behind the 212-year-old Lotamore House in Cork.

The main house is boarded up and the estate was recently sold by Savills, for the receivers, for below its €1.3m asking price. The outbuildings are being fitted out.