Investment fraud accused faces total of 147 charges, court told

Paul Dougan was refused bail on charges linked to a renewable energy scheme with more than 130 alleged victims, many of whom are from Northern Ireland.

Prosecutors claimed the 50-year-old has connections to Saudi Arabia, South America and Gibraltar, where a yacht for hire was said to be moored.

Dougan, of Hughenden Gardens in Glasgow, faces a total of 147 charges.

They include 136 counts of fraud by false representation, and making a mini-bond invitation document for use in connection with fraud.

He is further accused of acquiring, concealing and entering an arrangement to acquire criminal property.

Dougan was arrested earlier this month by detectives from the PSNI’s economic crime unit investigating alleged offences covering period between 2011 and 2016.

Crown lawyer Kate McKay said the probe involved investments and property arrangements worth up to £8 million in total.

The court heard funds were paid into a renewable energy bond scheme allegedly run by Dougan.

Mrs McKay also claimed that a number of properties in Co Tyrone and Co Donegal were transferred over to a company under the defendant’s control.

Opposing bail, she said: “This is a multi-million pound fraud, and a significant proportion of those funds have not been recovered.”

Citing the risk of flight, counsel contended that Dougan frequently travels abroad, with connections to destinations in three different continents.

Gregory Berry QC, defending, countered that his client knew police wanted to speak to him but made no attempt to abscond.

“Would that not, rhetorically, have been the perfect opportunity to flee the jurisdiction and head off to his life of yachts and riches the Crown seeks to portray?” he asked.

Mr Berry insisted Dougan had answered questions and gave a full account during police interviews, as well as providing the codes for his computers and phones to assist the investigation.

He also argued that any trial is unlikely to get underway until 2022.

But denying bail, Mrs Justice Keegan held that the proposed address did not deal with the risks identified in the case.