The IDLF, linked to entrepreneur Terry Clune, has raised over $2m in the US for a new fund even though the Immigrant Investor Programme was closed down two years ago.
A provisional liquidator was urgently appointed last week to protect creditors' interest in Clonmannon House, a property valued at circa €4 million. This Monday, the company was wound up following a petition by a Chinese investor.
Interim examiners were appointed to pubs owned by businessman Colm Wu. An independent expert report has found a "concerning disregard for both internal control measures and adherence to Company Law" in one of his companies.
The aim was to build much-needed social housing. But were millions in Immigrant Investor Programme funds diverted to act as complex debt securities for an investment company? That is the claim made against an offshoot of Focus Capital in a highly contested breach of contract court dispute.
© 2026 Currency Media Limited
