Man charged with investment fraud and money laundering offences involving forestry
A man has been charged this morning in relation to an investigation into alleged investment fraud and money laundering offences involving forestry in Ireland.
David Piele (40), a UK National with an address at Rectory Way in Bray, Co Wicklow, was brought before Dun Laoghaire District Court where he was charged with deception.
In a hearing before Judge Anne Watkins, Piele was charged with deceiving an investor named Kari Wahlstrom to the value of £52,000 sterling (aprox €60,000) at the AIB branch in Dun Laoghaire on February 23 last year.
Detective Garda Siobhan Moore of the Garda National Economic Crime Bureau (GNECB) told the court that Piele made no reply when charged.
Piele, wearing a blue grey zipped hoodie, blue jeans,and blue trainers with white stripes, sat quietly in the court throughout the hearing.
His solicitor, Michael Staines, applied for bail but this was objected to by Det Garda Moore.
She said that as a UK National who frequently visited there, as well as Spain and other European destinations, he was a flight risk.
She also said that the investor who had made the complaint to gardai, had known him by the name David Marshall and that Piele had told Gardai he had used this name.
Det garda Moore also said the charges against the accused were of a serious nature and there was a possibility of further charges in the future.
Solicitor Michael Staines said his client had resided in Ireland knowing there was a garda investigation ongoing, and has a partner and two children here.
Bail was granted on condition of a lodgement of €5,000 cash and an independent surety of €5,000.
Mr Piele also has to sign-on at a garda station twice daily, surrender his passport, and not apply for any travel documents.
He also has to be contactable by mobile phone at all times.
Piele will appear in court again on March 21.
A second man remained in garda custody in relation to the garda investigation. He was being questioned at Dun Laoghaire garda station in relation to the ongoing investigation in relation to alleged investment fraud and money laundering offences involving up to €5m.