Over €66m transferred to Kai Dai connected companies, court hears, as Huawen liquidator appointed

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Justice Miriam O’Regan said there was “an abundance of reasons” why cash-for-visa broker’s company needed to be liquidated

Over €66 million has been transferred out of bank accounts controlled by Kai Dai, one of Ireland’s biggest cash-for-visa brokers, into related entities, including “himself personally”, the High Court has heard.

The court also heard this morning that Dai provided a “false address” to the companies registration office and that he has had no insurance on his €8 million hotel for over a year.

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