DISGRACED businessman and aviation tycoon Tony Lyons, who was at the centre of a sex assault case, has disposed of his entire shareholding in the profitable aviation business he created, new documents show.
According to filings just lodged with the Companies Office, Mr Lyons and his wife Eileen no longer have shares in the Dublin-based Santos Dumont aviation firm.
Mr Lyons did own 91pc of the firm with Eileen Lyons owning the remaining 9pc.
In July, Mr Lyons (51) was jailed for six months of a six-year prison term for committing a sex assault on a 27-year old woman in Dublin on October 3, 2010.
The family of the victim said they were horrified when Judge Desmond Hogan suspended the remainder of the sentence on condition that Mr Lyons pay €75,000 to his victim. Judge Hogan described the aviation broker as "a man of means".
The sentence sparked a wide outcry and the Director of Public Prosecutions (DPP) has appealed the sentence on the grounds that it was unduly lenient.
The DPP's appeal has yet to be heard.
Mr Lyons stepped down as a director of Santos Dumont shortly after being charged with the offence.
New abridged figures show that the overall Santos Dumont business recorded profits of €741,267 in the 12 months to the end of June last year. This was down sharply on the profits of €2.4m recorded by the two Santos Dumont firms in 2010.
The separate abridged accounts show that Santos Dumont plunged into the red last year to record losses of €384,410.