Ponzi fraudster Breifne O'Brien has been jailed for seven years for duping friends and associates out of millions of euro during the boom.
O'Brien (52) from Cork, but living in Monkstown Grove in Dublin, deceived and stole from five individuals who lost a total of €8.5m between 2003 and 2008.
Of the €8.5m stolen by O'Brien, only €420,000 has been recovered.
During the boom, the socialite businessman ran a classic pyramid scheme - convincing people he knew to put down large deposits for bogus property, shipping and insurance investments in Ireland, Paris and Hamburg.
But the money did not just rest in his accounts - he used it to fund a lavish lifestyle that included investment properties abroad.
He has signed documents to help creditors recoup money from any of his remaining assets, but the court heard his five victims are unlikely to see any benefit.
Judge Patricia Ryan has imposed a seven year jail sentence, taking into account the seriousness of these offences but also his previous good character and guilty pleas.
