Complaint Review: Michael Fingleton Criminal

 Michael Fingleton the Criminal

Michael Fingleton aka Fingers Fingleton has stolen 25% equity of shares in the Fjord Hotel in Kotor Montenegro in defiance of a court order not to do so from a State official.

The shares were stolen from United Entertainment Partners Montenegro d.o.o in the company called New Fjord Developments d.o.o CRIMINAL charges have now been placed with the SPP State Public Prosecutor and action is now been taken.

WARNING do not attempt to deal with Michael Fingleton Srn or Michael Fingleton Jnr on the sale of this asset whereas this asset is stolen property and subject to a serious Organised Crime investigation. 

His lawyers who are also working with him in these crimes are Moravcevic Vojnovic and Partners with the main crimes being carried out by Nikola Babic and Slaven Moravcevic these two lawyers are curropted and working with Michael Fingleton Snr and Michael Fingleton Jnr to steel assets, do not attempt to deal with them in any manner in relation to the Fjord hotel in Kotor they are pure criminals.

Michael Fingleton will be brought to justic he has master-minded the scheme to try to steel the hotel away from its legal owners. The Organised Crime Unit led by Finglrton will be charged with the crimes they have created and carried out against the laws of Montenegro.

One of the commercial court Judges has passed the files on to the SPP State Public Prosecutor for action to be taken and these criminals to be brought to justice. UEP has filed over 6 additional criminal charges against Fingleton to bring him down and to justice.

By: Michael O’Farrell and Miranda Patrucic

DISGRACED banker Michael Fingleton and his son Michael Jr are facing a criminal investigation in the Balkan state of Montenegro, the Irish Mail on Sunday can reveal.

The probe by police and prosecutors was launched in April after Mr Fingleton’s partner in a major hotel project in Montenegro, developer UEP handed his files over to the authorities.

In a detailed criminal complaint Mr Fingleton is accused of filing inaccurate accounts, of abusing his position as a company director and of breaches of money laundering legislation. The complaint relates to New Fjord Developments Ltd – a local company set up to purchase and redevelop Hotel Fjord, a resort in the UNESCO-protected town of Kotor.

Then, in 2011 two significant events occurred: New Fjord Developments was forced into bankruptcy by an unpaid creditor; and Montenegrin authorities launched a money-laundering audit because the company had failed properly to disclose the source of its funds to the Montenegrin Central Bank.

A joint investigation by the MoS and the Bosnia-based Organised Crime and Corruption Reporting Project has confirmed that a formal investigation into the allegations against the Fingletons has begun.

The MoS has independently verified that Mr Maguire’s criminal complaint against the Fingletons was lodged with local police in Kotor on April 23.

After an initial examination, police sent the file to the local prosecutor’s office on June 13.

But because the allegations involve sums in excess of €500,000 the file was then taken over by the SSP – Montenegro’s equivalent of the DPP – on July 31.

This week, the SSP confirmed that it had received the file and was beginning initial investigations.

The complaint alleges that the Fingletons are in breach of four articles of Montenegro’s criminal code including article 244, which deals with crimes of deception and false representation. Those convicted can be fined or imprisoned for up to three years.

It is alleged by Mr Maguire that Mr Fingleton sought an ‘illicit gain’ by submitting ‘disputable documentation’ to support a creditor’s claim for €7.2m during bankruptcy hearings. Mr Maguire claims this allowed Mr Fingleton to control the bankruptcy proceedings as the largest creditor.

It is also alleged that the Fingletons were involved in the filing of inaccurate accounts, which, under article 278, carries a possible prison term of three months to five years.

The complaint also deals with allegations of money laundering under article 268, which allows for a prison term of up to five years.

Mr Fingleton planned to develop a €70m five-star hotel with 220 rooms, 150 exclusive apartments, a luxury spa and a private marina.

In return for bringing Mr Fingleton to the deal, Mr Maguire’s United Entertainment Partners Montenegro received a 25% stake.

But from 2008 relations appear to have soured, creditors went unpaid and Mr Maguire launched a series of commercial cases accusing Mr Fingleton of acting illegally.

The money-laundering complaint revolves around details of bank transfers that were uncovered when Montenegro’s money-laundering authority audited Mr Fingleton’s personal and company accounts. In particular, a January 2011 transfer of €128,498 from New Fjord Developments to the London account of Michael Fingleton Jr is mentioned.

The transfer is singled out in Mr Maguire’s complaint because it was part of a €148,925 transfer that Michael Fingleton Sr sent to New Fjord Developments for the stated purpose of ‘construction services’.

Separately, the SSP was asked to investigate the source of the €5.5m Mr Fingleton used to pay for Hotel Fjord because it came from an AIB account in Dublin in the name of Irish Nationwide Building Society.

The MoS has confirmed from Irish sources that an official Interpol request for information on the source of those funds was sent to Dublin last year. As well as denying all wrongdoing, Mr Fingleton Sr told the MoS in a statement that he had now repaid all debts related to Hotel Fjord and was proceeding with plans to develop the site.

‘As recently as May, I met Maya Catovic, the mayor of Kotor, who confirmed publicly that all taxes, surcharges and other financial obligations to the municipality had been fully discharged and that she was happy with the progress being made,’ he said. Ms Catovic told the MOS she would welcome any sign of progress. However, she also expressed doubts about the prospect of Hotel Fjord being developed.

‘It would mean a lot to us. That ugly building would be gone. But I am sceptical until I actually see something happening,’ she said.

‘I have a concern they are waiting for someone to pay well for it and they will get rid of it.’ A sale may have implications for the Government-appointed special liquidator to the Irish Banking Resolution Corporation, who is pursuing Mr Fingleton and other Irish Nationwide directors for tens of millions in damages.

The liquidator is aware of Mr Fingleton’s troubles in Montenegro because they have been asked to help identify the source of the funds Mr Fingleton used to purchase Hotel Fjord.

But last night a spokesman for the bank and liquidator said it was not possible to comment for legal reasons.

Michael Fingleton JR is playing an increasingly important role in matters relating to hotel Fjord, documents and emails from Montenegro reveal. He sits in on meetings and at one point in 2006 he was granted power of attorney to sign a loan document for his father’s Montenegrin company, new Fjord Developments ltd. In 2008, he was listed as a signatory on the company’s account. In an email to his father’s business partner, Maguire, in April 2008, Junior described himself as his father’s agent. ‘All requests for funds are to be in writing and provided in the first instance to me, Michael Fingleton Jr,’ reads the email. This correspondence came from his Irish Nationwide email address in london where he oversaw the UK loan book. Further correspondence in October 2008 reveals Junior becoming angry with Mr Maguire. ‘You have no authority to employ or contract anyone without express written agrreement from either me or my father,’ he wrote.

An Adriatic idyll… but nothing at the Hotel Fjord is quite the way it seems

 By Michael O’Farrell

In Montenegro

 On the shaded terrace of hotel Fjord local men are engrossed in a mid-afternoon game of cards. A tanned             visitor lounging beside the outdoor pool, raises a drink to his lips and beckons to a friend.

 A short distance away, children dive from the hotel’s jetty into the crystal azure waters of the Adriatic.

 And to the right, the hotel’s brightly coloured orange clay court is hosting an energetic doubles match     watched from afar by passengers lazing on the deck of the Silver Spirit – one of the many cruise ships that     routinely visit this unique location.

  So far, all is very much in line with Michael Fingleton’s vision. He purchased the massive hotel in the UNESCO world heritage town of Kotor in 2006 for €5.5m.

His ambitious €70m redevelopment plan should have made the hotel Fjord Kotor’s most exclusive and largest resort hotel. It should also have been the sun-kissed crowning glory of Michael Fingleton’s retirement years and a swan song to his legendary banking career.

But nothing is quite as it seems at hotel Fjord.

The men playing cards are balancing on broken seats amid strewn rubbish, broken glass and empty drinks cans.

And the man by the outdoor swimming pool is a homeless alcoholic drinking from a two- litre plastic bottle of beer as an acquaintance feeds the pigeons beside the stagnant water.

Locals have commandeered the tennis court which is surrounded by a broken chain-link fence. And despite the scattered rubbish and the broken pavement of the hotel’s jetty, the location remains a favoured swimming spot for some hardy locals.

Now Mr Fingleton is being sued for tens of millions by the special liquidators of Irish Nationwide and has already had a €13m judgment registered against him by another bank.

And Hotel Fjord remains vacant with old paperwork and guest records scattered about the once lively reception desk and an old crumbling sign positioned above the main entrance.

The official statement on behalf plaintiff UEP Dublin ltd in relation to the hearing in thecase no. P.335/12, on date of 8^th July 2014, before the Commercial Court in Podgorica against defendant Michael Fingleton.

1. As per day of 29^th November 2011, the Commercial court in Podgorica has issued the Resolution in the case no.  ST.167/11 for opening the bankruptcy proceedings against the debtor New Fjord Developments doo, which was duly asked by the creditor Monte-Bomix doo. Therefore, Michael Fingleton  has served the legal application of his claims in relation to his personal credits to the debtor, as per day of 29^th December 2011, in total amount of  7.239.941,20 Euro.

2. As per day of 23^rd December 2011, after the AMLCFT inspection has been duly performed Mr. Maguire has found out a serious number of financial irregularities and legal misconduct of company activity executed by Michael Fingleton himself and his associates in a criminal manner.

3. UEP Dublin ltd was a creditor in the case no ST.167/11, where the bankruptcy judge Dragan Vucevic, has instructed creditors to challenge each other credits in the litigation proceedings before the Commercial court in Podgorica, until such time that final Decisions can proof the grounds for claims of all creditors. That is how case no. P.335/12 has been started on behalf plaintiff  UEP Dublin ltd. The main legal points which are to discussed and verified are the following:

4.1. The ltd company New Fjord Developments doo was established as per day of 05^th May in 2006, as per the Shareholding contract was concluded between Michael Fingleton and Mr. Maguire, where Michael Fingleton was elected as the chief executive officer, and the founders share capital  was register per Michael Fingleton 75% of the share capital and 7.50 euros, and Mr. Maguire 25% share and 2.50 Euros capital.

4.2. Michael Fingleton has signed off, as per day of 11^th May in 2006,  The agreement on the sale of real estate with HP Fjord ad in bankruptcy, registered no. Ov.14177/06, where in the Article 3 of the Purchase Agreement, was defined that the buyer has to pay  500.000,00 non-refundable deposit within 21 days of signing the contract, as well the rest of the agreed price of 5 million paid latest up to the  01^st October 2006,  with the submission of an irrevocable bank guarantees by the customer.

But, the buyer company being New Fjord Developments doo has never paid out from its business account  the agreed purchase price to the seller, where  the money was only  paid from the account of the Irish Nationwide Building Society from  Dublin in Ireland with no legal reason and against the laws of Montenegro.

4.3 Michael Fingleton has served to the Commercial court in Podgorica, in the case no. ST.167/12 and case no. P.335/12, the copy of the Loan Agreement,  as per day of 30^Th May in 2006, but concluded just between Michael Fingleton JNR (son) and Michael Fingleton Snr (father).  But, Mr. Maguire was not ever before introduced to such document, neither he has ever approved such loan terms or Minutes, in relation to the Shareholding contract of New Fjord Developments . Michael Fingleton Jnr and Fingleton Snr had no statutory powers to sign off such loan agreement since 30^th of May in 2006 this document was 100% illegal.

4.4. In the case no.P.335/12, Michael Fingleton himself presented theTWO copies of the Minutes of the shareholder meetings since day of 30^th of May 2006, which were held by telephone, and obviously Forged docs. It is unclear why Michael Fingleton has not ever signed off the first session of the shareholder New Fjord Developments Ltd held on 30 th of May in 2006, at the time 12.03.pm at fax machine, for the amounts of 1.5 million and U.S. $500,000?  

It is also unclear, why Michael Fingleton has performed another session at the same day 30^th of May in 2006, without his signature Michael Fingleton, time of fax machine 04.47.p, for the amount of 2 million Euro.

Mr. Maguire has never signed off these TWO Minutes of the same day, because the first session of the shareholder meeting for the Company New Fjord Developments was held on 05^th of May in 2006.

It is unclear why Michael Fingleton has enacted TWO minutes of the same date, confirming that the UEP Dublin Ltd was paid out the amount of  500.000,00 Euro, when the  transaction of  520.000,00 was made ​​on 19^th of June 2006, after Mr. Maguire approval, based on the Agreement.

4.5. It is also unclear why Michael Fingleton did the Minutes of the shareholder meeting since 27^th of September 2006, by phone, without his signature, approving 4 million Euros  loan transfer.

5.1. Michael Fingleton, in the case no. ST.167/11 and case No. P.335/12, was trying to proof the origin of monies paid out from the account in the Irish Nationwide Building Society no. 30091711/3/1, in relation to the statement from the Anglo Irish Bank since date of 12 th July 2011, about the transactions since 02^nd of May 2006, in the amount of 2,700.000,00 eur, and since the date of 31^stof May in 2006, for the amount of 1,100,000.00 euro.

5.2. But, since  02^nd of June in 2006, the Crnogorska Komercijalna banka  ad,  has received  a foreign SWIFT payment to HP Ad Kotor Fjord in Montenegro, paid by the IRISH Nationwide Building Society in Dublin, Ireland for the amount of 1.500.000, oo Euro.

5.3. Michael Fingleton was trying to proof the origin of monies paid out from the account in the Irish Nationwide Building Society no. 30091711/3/1, in relation to the statement from the Anglo Irish Bank since date of 12 th July 2011, about the transactions since day of 27^th of September 2006, for the amount of eur 2,700,000.00, and transaction receipt since of  28^th of September in 2006, for the amount of 1,300,000.00 Euro.

5.4. But, since 02^nd of October in 2006, the Crnogorska Komercijalna banka  ad,  has received  a foreign SWIFT payment to HP Ad Kotor Fjord in Montenegro, paid by the IRISH Nationwide Building Society in Dublin, Ireland for the amount of without stating the basis of payment of 4 million Euros.

5.5. Michael Fingleton has submitted to the Commercial court case no. P.335/12 sworn affidavit by  Mr. Stan Purcell about the activates of the account number 30091711/1/3/1 in the INBS. At this point of time, UEP Dublin ltd Is aware of proceedings in Ireland related to AIG, IBRC and KPMG about the activities  and responsibilities in the INBS, since 2006 up to date(

6.1. Mr. Maguire and UEP Montenegro doo have started THREE Criminal charges against Michael FIngleton and others, since 29^th of April 2013, 21^st August 2013, 09^th of May 2014.

UEP Dublin ltd and UEP Montenegro doo will proceed on all legal proceedings before the relevant  authorities in EU and Montenegro, in relation to the above mentioned issues.

In Podgorica, 

UEP GROUP.

More to follow soon;