Dublin man accused of stealing €178k in pyramid scheme 'fabricated' motor business

Central Criminal Court
Central Criminal Court

Evidence is continuing in the trial of a man accused of setting up a "pyramid scheme" by pretending to run a profitable motor business.

Eamon Shield (45) is alleged to have stolen €178,000 from 12 people by telling them he could "flip" cars repossessed by the banks at a significant mark-up.

Shane Costelloe SC, prosecuting, has told a jury at Dublin Circuit Criminal Court that this was a fabrication and there was no business.

Mr Shield of Weston Meadows, Weston Park, Lucan, Co Dublin has pleaded not guilty to 15 counts of theft and another 12 counts of making a gain by deception between June 2011 and February 2012.

On day five of the trial a number of alleged victims gave further evidence of meeting Mr Shield and investing money in his business.

The trial continues before Judge Patricia Ryan and a jury.