Ponzi fraudster Breifne O'Brien has been jailed for 7 years for stealing millions of euro from his friends and associates during the boom.
The 52 year old from Cork but living in Monkstown Grove in Dublin deceived and stole from 5 individuals who lost a total of 8.5 million euro between 2003 and 2008.
Detective Sergeant Martin Griffin gave evidence only 420 thousand euro has been recouped and not 2 million as Dublin Circuit Criminal Court erroneously heard on the last occasion.
During the trial the court heard Breifne O'Brien ripped off close friends and associates in what was described as a classic pyramid scheme.
It is claimed when they caught him out he admitted he'd been living a lie and told them it was easy to draw suckers in during the boom years – a statement he's adamant he never made.
The socialite businessman would rob Peter to pay Paul by securing large deposits for bogus property, shipping and insurance investments in Ireland, Paris and Hamburg between 2003 and 2008.
The money helped fund an extension at his South Dublin home, his wife's car and an investment property in Barbados.
He now lives off 188 euro a week for Social Welfare.
