The former chief executive of Custom House Capital , Harry Cassidy, was an “extremely strong” personality whose management style was “dictatorial”, the Dublin Circuit Criminal Court was told on Friday.
Cassidy and non-executive director John Mulholland owned 90 per cent of the regulated investment firm, which was a “remnant” of Guinness Mahon, the former merchant bank associated with the so-called Ansbacher Deposits and the finances of the late taoiseach, Charles Haughey. Cassidy took over the running of Custom House Capital in 2000. Over the course of the 2000s CHC became progressively more focused on commercial property investment ventures in continental Europe. Investors who gave their money to CHC did so in the main because of Cassidy’s reputation.
Former CHC employee Angela Mahon described Cassidy as an “extremely strong figure” with a “dictatorial style”, the court heard. Former financial controller Paul Lavery told An Garda Síochána of “physical and verbal assaults” by Cassidy and of a “toxic environment” within CHC. John Whyte , former head of private clients at CHC, said Cassidy would “lose his temper” when people quizzed him about the misuse of client funds.
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