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Dolphin’s Cork spend included BMWs and gym gear

Revelations add further detail to pattern of high spending at firm which was part of a property investment scheme that collapsed, leaving investors €1bn out of pocket 

Marc Reilly and Cormac Smith, formerly of Dolphin Expand

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Marc Reilly and Cormac Smith, formerly of Dolphin

Marc Reilly and Cormac Smith, formerly of Dolphin

Marc Reilly and Cormac Smith, formerly of Dolphin

Fearghal O'Connor

The Cork office of the now collapsed Dolphin property investment scheme bought hundreds of thousands of euro worth of expensive cars, gym equipment and top of the range technology.

The fixed asset register for Irish-registered Dolphin International Group (Dolphin IG) up to the end of November 2017, seen by the Sunday Independent, adds further detail to the pattern of high spending at the firm revealed in recent weeks by this newspaper.

Amongst the items on the register were two BMW X5 luxury SUVs — worth more than €90,000 apiece — as well as a BMW 7 Series and a BMW 5 Series. The firm also owned a Range Rover Vogue that it had bought the previous year for €142,000 — the most expensive item on the list. In 2018, the year before Dolphin IG was placed into voluntary liquidation by its directors, it purchased another Range Rover — an Autobiography – for €183,000.

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