Hynes, has Fight on his hands now, once a Highflyer, and Accountant?

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Bankrupt businessman Alan Hynes charged with theft and fraud

27th October 2022

Bankrupt businessman Alan Hynes has been charged with six theft and fraud offences before Wexford District Court.

The former accountant has been accused of five theft offences worth more than €2.1m.

It has also been alleged that between October 1, 2006, and September 30, 2008, Hynes was knowingly a party to the carrying on of Tuskar Asset Management for a fraudulent purpose, namely defrauding existing and prospective investors in the same company.

The sums of money involved are significant, with one man alleging Hynes stole €1.2m from him.

Each of the five theft charges relate to incidents which occurred between 2006 and 2008.

The sums involved in each of the charges are €400,000, €500,000, €501,184, €200,000 and €500,000.

Hynes, of Larkinstown, Coolree, Co Wexford, denies the charges.

He was entitled to apply for legal aid as his assets are currently frozen.

Legal aid was granted and he is due to appear in court again in December.

Earlier this month, he was officially declared bankrupt by the High Court.

His wife, Noreen Hynes, was also adjudicated bankrupt, court records confirm.

The couple were each declared bankrupt on foot of applications by Bridget and John Atkinson, of Glenbrien, Enniscorthy, Co Wexford.

Mr Justice Mark Sanfey made the decision following an application from Bridget Atkinson, a creditor who claimed Hynes owed her nearly €300,000.

They drew the money from a farm to invest in certain projects in 2008.

When contacted for comment, Alan Hynes indicated he now intends to appeal the bankruptcy to have it set aside.

He told the High Court that he intends to source a grant to help resolve the 2009 judgment.

The Atkinsons said that despite obtaining a judgment for €200,000 13 years ago, this was not repaid and with interest accrued, €290,000 was now due.

The case had been before the courts on a number of occasions.

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