ODCE brings 62 charges for company law violations

Published date30 June 2022
That is according to the 2021 annual report for the ODCE, which states that the criminal charges related to alleged fraudulent trading and the furnishing of false information as well as to theft and money laundering, among other things

According to the director of the ODCE, Ian Drennan, three individuals were convicted, or facts were found to have been proven in respect of 12 offences.

He said that, at year end, four cases, involving some 60 charges remained before the district or circuit courts and one file was with the DPP for consideration as to whether charges should be brought on indictment.

Alongside the prosecutions, a number of large-scale investigations are progressing and one ongoing High Court Inspectorship.

Mr Drennan said his office directed the rectification of directors' loans infringements to the value of almost €10 million.

The number of forensic accountants employed at the ODCE increased from four to seven last year, with the number of detective gardaí attached to the office doubling to eight.

Looking to the year ahead, Mr Drennan said the prevailing view seems to be that corporate insolvencies have been artificially low...

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