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Man in court over forestry investment fraud

RTE News reports a 40-year-old man from Bray has appeared in court charged in connection with a forestry investment fraud.

David Peile from Rectory Way in Bray is accused of deceiving a person to invest over £50,000 in forestry in Ireland.

The father of two was granted bail at Dún Laoghaire District Court despite garda objections and is due to appear again in six weeks time.

Mr Peile was arrested by the Garda National Economic Crime Bureau at his home in Bray yesterday morning.

He is accused of deceiving a Swedish man, Kari Wahlstrom, out of £52,000.

Detective Garda Siobhan Moore told the court that the complainant alleged that he invested in forestry believing he would own the land and get Government grants.

The detective also said that David Peile allegedly used the false name of David Marshall.

Det Moore objected to bail because of the seriousness of the charge, the nature of the evidence and her belief that Mr Peile, as a UK national, was a flight risk.

The detective testified that Mr Peile spent a lot of time in the UK, Spain and Europe and had not been employed since last December.

She also said she did not believe that he knew he was to be charged with a criminal offence.

However defence solicitor Michael Staines said Mr Peile was aware of this investigation for some time, he had a partner and two children here, he was prepared to stay in the country and not take any business trips abroad.

Judge Ann Watkins released Mr Peile on €5,000 bail along with another €5,000 bond requiring him to sign on twice daily and surrender his passport.

He was also directed not to leave the country and be contactable by gardaí on his mobile phone at all times.

Meanwhile, a second man is due to appear in court in Dublin this evening in connection with the forestry investment fraud.

The man who’s in his 40’s was questioned yesterday and today by gardaí from the National Economic Crime Bureau.

He currently is being taken from Dun Laoghaire Garda Station to the Courts of Criminal Justice where he will appear before the Dublin District Court this evening.

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