A group of UK and Irish investors who lost money in a Portuguese property scheme which never built anything, has accused the Irish government of conspiring with the fraudsters, a claim vigorously denied by Irish government agencies.
The Little River Victims (LRV) group, who lost $3m investing in a US-based property development through Portuguese property scheme Oceânico, alleges that the Irish government, through its National Asset Management Agency (NAMA), is now the owner of the failed scheme and is stopping it from paying back investors. The investors have written to their MPs asking them to raise their grievances as a "significant diplomatic issue" in the House of Commons and intervene with Irish government ministers to convince them to force a pay out. LRV lost their investments after it transpired that the ...
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