Liquidators appeal for details on on-the-run’s transactions

The Donegal-based businessman is wanted by police after absconding following his failure to divulge details of his assets to the Financial Services Authority (FSA).

Mr de Dietrich was sentenced to an 18-month prison sentence after he failed to comply with a High Court order obtained by the FSA and statutory information requests from the FSA ordering him to give, amongst other information, details of where his assets were held.

The FSA earlier obtained a High Court order restraining any potential unauthorised activity and freezing £20,223,485 assets of Francois de Dietrich and ETIC Solutions Ltd (ETIC).

Mr de Dietrich and ETIC are believed to be behind an illegal investment scheme.

Paul Rooney and Dan Schwarzman, both licenced Insolvency Practioners of Price Waterhouse Coopers, were appointed joint liquidators of ETIC last month.

They have appealed to “all persons who had dealings with ETIC Solutions Ltd or the director Francois de Dietrich (Consumers) to contact us with details of their transactions.”

City of Derry Rugby Club were amongst those to have been hit by the debacle having been sponsored by Mr de Dietrich and having been due to receive further sponsorship covering forthcoming seasons prior to his disapperance.

The order by the High Court in Northern Ireland allows the FSA to preserve the funds and other assets held by de Dietrich and/or ETIC until the court decides whether he has broken the law.

The court will also decide how much money, if any, should be returned to investors and other creditors.

Meanwhile, the FSA is continuing its investigation into the activities of de Dietrich and ETIC.

Any investors in this scheme should contact the FSA either call the Contact Centre on 0845 606 1234 or via email on [email protected].

ETIC Solutions Ltd styled itself as a firm to the fore of the hospitality industry in the North West.

In 2009 Mr de Dietrich was feted at the Mansion House in Dublin were former Taoiseach Brian Cowen commended him for his business acumen.

With the court orders in place, de Dietrich and ETIC may not accept money from, or pay money to, any person as part of the ETIC business. This includes a restriction on paying out funds to investors.