Belfast Telegraph

Head of global investment scheme 'too ill to testify' at Belfast High Court case

The head of an international investment scheme offering profits of up to 400% on a Buddhist retreat in Spain is too ill to testify at a High Court case in Belfast, a judge was told today.

Mr Justice Treacy had said Marcus Schlosser should come and give evidence under oath as part of his company's attempts to gain access to more than £200,000 from a local woman's bank account.

But barrister David Dunlop disclosed to the court today: "My instructions are that Mr Schlosser is not in sufficient good health to attend proceedings in Northern Ireland in the near future."

He added that his client also had other commitments between now and Christmas.

Mr Schlosser is head of the Costa Del Sol-based Rubix Project Management, a real estate vehicle said to be involved in a series of investment schemes.

Earlier this week it applied for permission to take £215,000 from Northern Ireland woman Katrina Maria Mullan's bank account.

The money has been frozen while her financial affairs are investigated.

Mrs Mullan, described in court as a paymaster appointed by Rubix, is not charged with any offence.

It was argued that the funds belong to Rubix, and that the restraint order and criminal investigation in Northern Ireland do not relate to it.

But a barrister representing the Public Prosecution Service claimed there may potentially be either property fraud or money laundering involved. 

He said he would like the chief executive of Rubix to attend court to give evidence on investment strategies or promises of quick profits of up to 400%.

These included a Buddhist retreat in Spain, a Christian organisation in America and another charitable organisation, the court heard.

On that basis Mr Justice Treacy indicated that affidavit evidence would not be enough to explain the allegedly "commercially bizarre" financial transactions.

He had adjourned the case for instructions to be taken on Mr Schlosser's availability for travelling to Northern Ireland.

After being informed today of the health issues, the judge told counsel that medical evidence setting out the precise situation should be provided.

Adjourning the case, he said: "I wouldn't have been surprised if I had been told the application wasn't going to proceed."

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