Belfast Telegraph

Family's fury as Quinn pair jailed

The billionaire Quinn family has hit back after two relatives were handed jail sentences over an asset-stripping plot, saying the "real perpetrators" continued to walk free.

The son of bankrupt billionaire Sean Quinn, Sean Quinn Jnr, started an indefinite sentence in Mountjoy prison on Friday for hiding millions from a bank owed £2 billion. Police are hunting his cousin, Peter Darragh Quinn, after he failed to show up at court.

The Quinn family statement to RTE broadcaster said: "Ireland today is imprisoning people who have been defrauded of millions by banks whom they have never met or never borrowed a penny from, while the real perpetrators continue to walk free."

Sean junior and his cousin Peter, who has a warrant out for his arrest after failing to turn up at the High Court in Dublin for the hearing, were sentenced to three months in prison for trying to hide a 500 million euro property empire from the former Anglo Irish Bank.

Quinn senior, 65, once Ireland's richest man, was also found guilty of the offence by the High Court in Dublin three weeks ago but was spared punishment for now to give him time to comply with court orders and unravel the moves that carved up the family's international property empire. He clutched a handkerchief and bowed his head as the High Court ordered his son to be locked up.

The arrest of his nephew, the son of Peter Quinn, a former president of the Gaelic Athletic Association (GAA), was ordered after he failed to turn up for the hearing, leaving a message that he was sick.

The one-time industry, insurance and property tycoon's doomed gambles on Anglo have lumbered the family with a 2.8 billion euro debt and a jailed son.

Judge Elizabeth Dunne told the men their contempt of court had been outrageous and that she was unhappy with their lack of co-operation.

Sean Quinn avoided jail but must co-operate with the Irish Bank Resolution Corporation within three months. Sean jnr will serve out the remainder of his sentence at the training unit of Mountjoy prison. It is a semi-open low security facility.

He and Peter Darragh Quinn will be jailed until the contempt of court in breaching an order not to put 500m euro of overseas property assets beyond the reach of the former Anglo Irish bank is purged.


From Belfast Telegraph