AIRPORT ARREST | 

‘I hope he gets what he deserves’ – Victim’s relief as alleged €1.2M Dublin gold scammer arrested

61-year-old Nicholas Wickham was arrested by gardaí as he tried to fly out from Knock airport to the UK last week

Yesterday at 09:15

A retiree who lost almost €50,000 of her retirement fund by purchasing gold bars from alleged €1.2 million Ponzi Scheme operator Nicholas Wickham, says she hopes he is jailed and his assets seized.

Christine Noel, who handed €47,000 to gold bullion dealer Wickham in exchange for two 500 gramme gold bars, said she was delighted when she heard the 61-year-old had been arrested by gardaí as he tried to fly out from Knock airport to the UK last week.

“I thought he would be living somewhere from where they (the Gardaí) would never be able to extradite him to Ireland to face justice,” she said.

“Even though I knew the Gardaí were trying their best, I didn’t have a lot of confidence that he would be arrested. I hope he gets what he deserves. I hope they can find out where all the money went and seize any of his assets that they find. But I’m also hopeful he will be sent to jail.”

Wickham (61), who ran ‘Irish Gold and Silver Bullion Ltd ’ from an office in upmarket Monkstown, South Dublin, was arrested last Sunday morning as he was about to fly out of the Ireland West Airport following a stay at a holiday home in Achill.

He was then taken to Claremorris Garda Station, where he was quizzed about an alleged investment fraud in which 65 victims claim they were duped out of €1.2m.​

Wickham’s arrest occurred 11 months after the High Court heard from chartered accountant and liquidator Myles Kirby, who said the company had been operated as “a Ponzi Scheme” that defrauded customers.

He said customers had transferred their money to the company to buy gold and silver on their behalf, believing that it would be sold-off at a higher price to generate a profit.

But, he said, in reality payments were often used to pay other customers who had invested in Irish Gold and Silver Bullion at an earlier point in time.

Meanwhile, other funds were diverted to third parties or entitles related to Mr Wickham, which Mr Kirby claims were used for the defendant’s own benefit.

In addition, some customers were told the valuable metals were being stored at vaults at the world-famous Harrods Department store in London and were furnished with certificates from IGSB confirming their purchase.

However, Mr Kirby said Harrods have confirmed to him that it had no dealings with the company since 2016 when it closed its accounts.

This meant that the certificates issued were “a fabrication” and that gold customers believed had been purchased on their behaves did not exist, he said.