Businessman says Letterkenny investors will get money back

A business man who has been implicated in the media as being behind a failed investment scheme involving people in Donegal says anyone owed money will have it returned

The investment scheme is understood to involve around 200 investors from Donegal with 40 people investing from Northern Ireland.

Francois De Dietrich says the money has not been returned as the Financial Services Authority in the UK has frozen his assets.

Some Donegal investors have expressed their fear that  they have lost large sums of money in a Ponzi scheme and have been attempting to get their money back.

The amount of money feared lost in the investment scheme is estimated to be between 10 and 20 million.

In a statement released through his solicitors Francois De Dietrich, the man believed to be at the centre of the scheme, strenuously denied a number of allegations.

In it he says his businesses are legitimate and as a consequence of the actions of the FSA, various business bank accounts have been frozen resulting in the forced closure of his businesses.

Mr DeDietrich says the FSA action has left him unable to trade, which led to the loss of many jobs.

He added that his is committed to working with customers regarding full return of outstanding monies.

The statement concludes by rejecting some press and media reports that Mr DeDietrich  is the subject of an arrest warrant and that he is being sought by the police.

Those allegations have been described as completely untrue.