A FORMER CEO of a large multinational has been arrested by detectives from the fraud squad as part of an investigation into crimes of theft and deception linked to renovations to his home.
Agents from the Garda National Economic Crime Bureau (GNECB) questioned the businessman at a south Dublin Garda station after his arrest by appointment in the capital today.
High-level sources say the large company he worked for lodged a complaint with gardaí in March last year over an alleged suspicious transaction of around € 12,000.
It is understood that this sum was used by the arrested man based in Dublin as part of renovations he was carrying out at his home.
He is a well-known figure in the business world who is in his 50s and was not known to gardaí before.
The € 12,000 would have been only a small fraction of his six-figure salary at the time.
The complex nature of the case means that the GNECB has been investigating for over a year.
It is alleged that the suspect, who is an Irish national, invoiced a company which worked for his employers for the € 12,000 which was used for the renovation of his house.
This company, which is not suspected of any involvement in the alleged scam, then invoiced the multinational company of which the suspect was then CEO.
This led to suspicion and the completion of an internal audit.
The arrested man no longer works for the company, which has millions of clients in more than a dozen countries as well as a major operation in Ireland.
The suspect is the latest professional to be arrested by the GNECB in connection with a large number of different and complex fraud investigations across the country.
Meanwhile, a lawyer arrested Tuesday as part of a separate investigation has been released without charge from the Irishtown Garda train station and a case will now be prepared for the DPP.
She was being questioned as part of a major investigation into false insurance claims.
The lawyer, who is now based in the UK, has become a “person of interest” in the lengthy investigation after agents received a complaint from one of Ireland’s largest insurance companies.
Most bogus compensation claims relate to bogus traffic accidents involving individuals who do not exist as real people.
As part of their extensive investigation, GNECB agents seized approximately 200 files from this company and uncovered approximately 30 cases of false documents that are believed to be used in false civil claims.