Words: Ashley Rigg
Published: 7th June 2011
*Overseas property bosses accused of “theft by swindle”
You won’t find many articles in the press about the Britain’s most financially successful overseas property firm.
The lawyers working for Darragh MacAnthony, the founder of MacAnthony Realty International (MRI) do a good job at defending his reputation.
So it was with surprise that I read an
article this weekend on British newspaper website, the dailymail.co.uk covering allegations against MacAnthony and two of his former joint chief executives, Dominic Pickering and Michael Liggan, of ‘theft by swindle and misappropriation of funds’.
The allegations are part of a claim filed in Madrid by 60 British and Irish claimants who say they lost more than half a million pounds in undelivered furniture five years ago.
The newspaper also covers allegations made by Northern Ireland MP Sammy Wilson last year who spoke of “property fraud by MRI” in the House of Commons.
In a statement from his base in the US, Mr MacAnthony denied any wrong doing.
“There are no foundations behind these allegations. I certainly didn’t do anything wrong and neither did anyone with MRI when I was there.”
Despite a number of complaints made to the National Federation of Property Professionals and latterly, an investigation by the Serious Fraud Office, no evidence of illegal activity has ever been found against MacAnthony or MRI.
Comment
There is a difference between legality and ethics. Mr MacAnthony may well have acted within the confines of the law but arguably some of the promises to complete on developments made by MRI were not delivered on. The comments at the end of the
article are interesting as is the suggestion that MRI Overseas Property Group is now owned by a Peruvian company, under the directorship of octogenarian named Fernando Arespacochaga .
For a more detailed discussion of some of issues involved, see
article and
here.
Source: Global edge
User Comments
Many thanks for publishing this article. As you quite rightly comment that Mr MacAnthony may well have acted within the confines of the law but he certainly has been able assit in damaging the reputation of the Overseas Property Industry. No doubt MacAnthony is very comfortable in his Florida home whilst we who remain in the industry continue to try and restore customers confidence in buying property, especially here in Spain, after the crooks and swindlers have taken their money and run. Hugh James Murcia Villas SL
Hugh James,
Murcia Villas SL