Jury to consider verdict in Thomas Elvin trial today

The jury will be sent to consider a verdict today at the trial of a man who denies conning €177,000 from seven people in Donegal.

Thomas Elvin told his trial last evening that he hoped to turn 50,000 dollars into 98 million dollars in less than. 45 days.

The 50 year old from  Meencargagh, Ballybofey, told the court he is now living on weekly social welfare payments, and has 20 cows on a 17-acre farm.

Thomas Elvin told Donegal Circuit Court how he encountered a Florida-based man on the Internet, Larry Marsella, and after an exchange of emails and phone calls he believed he was the man to help him raise a large sum of money for good causes.

Marsella told him he could earn 25 per cent a month interest with higher than average yields on invested money over a period of 30 to 45 days maximum.

Elvin said he hoped to turn 50,000 dollars into 98 million dollars, and what happened was the funds of the people whose money was at the centre of the case were transferred to Marsella, but he did not live up to his promise, and some of the money was lost.

He said he was duped by Larry Marsella.

Elvin added that on a couple of occasions, he considered suicide.

He denies 26 counts of operating as an illegal investor on a variety of dates between 2003 and 2005 and of deceiving seven people of their cash .