The collapse of spread betting firm Worldspreads has hit Fianna Fail. Not only is former Finance Minister Charlie McCreevy a board member of the crippled firm, but many Fianna Fail TDs have also been shareholders.
Former Kildare Fianna Fail TD Sean Power is listed as owning 199,134 shares, which were worth as much as €272,000 at its peak in 2008. Those shares are all but worthless now. Ex-Galway TD Frank Fahey held shares until 2008.
Anglo Irish Bank (now IBRC) director Roger McGreal is listed in the shareholders' register as owning 68,750 shares, which were worth close to €94,000 at the peak of the market. Jurys Doyle squillionaire Eileen Monahan and her husband Ray are also major shareholders, with a combined block of 371,000 shares once valued at €509,000.
Property tycoon John Byrne's Carlisle Trust has 300,000 shares, once worth up to €411,000. The Durkan Homes family are also sizeable shareholders, with Liam Durkan listed as owning 649,579 shares once worth €890,000, Neil Durkan has a stake once worth €1.24m with William Durkan having a massive 1.63 million shares, valued at €2.24m during the boom.
Those shares were worth €667,000 before trading was suspended and are unlikely to be actually worth anything like that as potential buyers pick over the carcass of the company.
A large number of well known investors were once shareholders but have sold out in recent years, these include golfer Paul McGinley and his agent Andrew 'Chubby' Chandler, former Republic of Ireland football star Keith O'Neill, former Manchester United and Danish international Jesper Olsen, and Shane Cooke, president of drug company Alkermes.
KPMG was appointed as administrator to Worldspreads when it emerged that up to €16m in clients' money had gone missing. The UK's Financial Services Authority is conducting an investigation.
SRC Irish Times
Former Kildare Fianna Fail TD Sean Power is listed as owning 199,134 shares, which were worth as much as €272,000 at its peak in 2008. Those shares are all but worthless now. Ex-Galway TD Frank Fahey held shares until 2008.
Anglo Irish Bank (now IBRC) director Roger McGreal is listed in the shareholders' register as owning 68,750 shares, which were worth close to €94,000 at the peak of the market. Jurys Doyle squillionaire Eileen Monahan and her husband Ray are also major shareholders, with a combined block of 371,000 shares once valued at €509,000.
Property tycoon John Byrne's Carlisle Trust has 300,000 shares, once worth up to €411,000. The Durkan Homes family are also sizeable shareholders, with Liam Durkan listed as owning 649,579 shares once worth €890,000, Neil Durkan has a stake once worth €1.24m with William Durkan having a massive 1.63 million shares, valued at €2.24m during the boom.
Those shares were worth €667,000 before trading was suspended and are unlikely to be actually worth anything like that as potential buyers pick over the carcass of the company.
A large number of well known investors were once shareholders but have sold out in recent years, these include golfer Paul McGinley and his agent Andrew 'Chubby' Chandler, former Republic of Ireland football star Keith O'Neill, former Manchester United and Danish international Jesper Olsen, and Shane Cooke, president of drug company Alkermes.
KPMG was appointed as administrator to Worldspreads when it emerged that up to €16m in clients' money had gone missing. The UK's Financial Services Authority is conducting an investigation.
SRC Irish Times
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