Fraudulent Sale of Ballsbridge Home Ends in Legitimate €1.635 Million Auction
A Victorian house in Ballsbridge, Dublin, at the center of a fraudulent sale six years ago, has finally been sold legitimately at auction for €1.635 million.
The Case of the “Rock-Bottom” Sale
The boarded-up house at 13 St Mary’s Road had appeared on the Property Price Register (PPR) in 2018 with a curiously low sale price of €525,000. This was a significant drop compared to the typical values of houses on the same street, which were then fetching over €2 million. Investigations soon revealed that the purported vendor ”never owned the property” in a case labelled “truly extraordinary” by the High Court.
Unraveling the Fraud
Owned by Liam and Keira Curran until 2015, the protected structure was repossessed by Permanent TSB. Despite being listed as a derelict site, the bank cleared the property sufficiently to remove it from the register in 2017. The perplexing 2018 PPR listing surfaced without the knowledge or involvement of the bank or the original owners. Legal action against Hamilton Holdings, a US-based company claiming ownership, ensued.
Further investigations by Mr. Justice Brian O’Moore revealed that Hamilton had supposedly acquired the house via a company called Kent International Holdings, based in Nevis. This claim was met with surprise by both the Currans and PTSB, as no previous ownership transfer had ever been documented.
Justice Prevails
Mr. Justice O’Moore determined that the conveyance of ownership from Kent to Hamilton was fraudulent, concluding that “any deed purporting to have effected such a transfer is a fraud.” The court case opened the door for a legitimate sale of the property, bringing closure to a lengthy legal battle.
Resale at Auction
An online auction of the property, with a guide price of €1 million, was conducted by Quillsen. Shortly after the start, the house was sold for €1,635 million after over 70 bids.
Aftermath of the Fraud
In October 2023, a trial commenced in the Dublin Circuit Criminal Court concerning the fraudulent acquisition of the Ballsbridge property and another in Phibsborough. Herbert Kilcline, a former solicitor, was found guilty of eight charges related to fraudulent procurement of land registry entries. Philip Marley, a businessman, pleaded guilty to three counts, including procuring a false deed and deception.
Both individuals are awaiting sentencing.
This case serves as a stark reminder of the complexities and potential dangers surrounding property transactions. It highlights the vital importance of due diligence and seeking expert legal advice throughout the process.