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Former commercial property billionaire freed from prison

Sean Quinn, who used to be Ireland’s richest man has now been released from prison following a nine-week sentence for contempt of court. He was previously in command of a massive business empire which included a global commercial property portfolio.

The Quinn family, including Sean Quinn, his son Sean junior and his nephew Peter Darragh Quinn, were accused of hiding £2.8billion from the national bank and it was argued by the Irish Bank Resolution Corporation that these assets should belong to Irish tax payers following the bailing out of the bank by taxpayers after the collapse of the property market. Their refusal to hand over the money led to the contempt of court ruling.

While many in Ireland feel that Quinn and others like him were responsible for the collapse of the banks and subsequent tax payer bail out, arguing that the property tycoons like Quinn were gambling irresponsibility in the property market, general support for the family has been good. Thousands last year took part in a rally for the family and support is particularly high in the border counties where Quinn originally began trading.

Sean junior served three months in jail following his conviction, however Peter Darragh Quinn remains in Northern Ireland outside the jurisdiction of the Irish court. He did not return to court for the sentencing process in July and there is currently a warrant out for his arrest.

The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.

Setfords Solicitors are a national full service law firm, with commercial property Solicitors in Tilehurst and across the country.