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Developer defrauded wife over €965k deal

A PROPERTY developer carried out a fraud on his wife when he transferred a loan of €965,000 from their company to another firm, a High Court judge ruled

Desmond Bell, of Cookstown, Tyrone, who admitted forging his wife Martina's signature on the loan documents, claimed she left the running of the business to him.

Justice Daniel Herbert yesterday found Mr Bell had acted oppressively as a director of the firm they were co-owners of, Rollville Ltd, Navan, Meath, and ordered him to buy out his wife's share of the business at a price yet to be calculated.

The Bells were married in 1990 but became estranged in February 2006 having lived an "extraordinarily lavish lifestyle", Mr Justice Herbert said.

Mrs Bell brought proceedings seeking orders that the affairs of Rollville were being conducted against her interests.

The case to next March to allow the price to be calculated.