Hundreds of Irish people caught up in 'Wild West' property scheme, Dáil hears

Hundreds of 'ordinary' Irish people have lost their life savings and pensions after the collapse of German property group Dolphin Trust, Sinn Féin's Pearse Doherty said

Sinn Féin's Pearse Doherty said Dolphin Trust was 'a Ponzi scheme' which had collapsed due to 'unregulated products'. Picture: Gareth Chaney/Collins

Hundreds of Irish people unknowingly invested in a "Wild West" German property scheme that has cost them thousands of euro and, in some cases, their entire life savings. 

The collapse of the German Property Group, formerly called Dolphin Trust, which went into insolvency administration in Bremen last year, put into question billions of euro the German firm had collected across the world, including Korea, France, and the UK, as well as in Ireland.