Businessman accused of €11m investment fraud

Former businessman Breifne O'Brien has appeared in court accused of operating an €11m investment fraud.

The 51-year-old, with an address at Kilmore Close in Monkstown, Dublin, was arrested this morning by officers from the Garda Bureau of Fraud Investigation.

Tanned and wearing a smart navy blazer, O'Brien sat and looked around the courtroom throughout today's hearing.

The former businessman is accused of operating an investor fraud, which stole more than €11m from five alleged victims.

The 51 year-old was formally charged in the Bridewell Garda Station this morning, where he replied 'not guilty' to 38 counts of theft and deception.

O'Brien's mother Mary agreed to pay a bail bond of €10,000, telling the court she understood the obligation, and hadn't been 'put upon' to volunteer the cash.

O'Brien has handed his passport into fraud squad detectives, and will appear again in court in November to receive a book of evidence.