Businessman Breifne O'Brien has pleaded guilty to 14 theft and deception charges relating to a multi-million euro Ponzi scheme.
The entrepreneur went all the way to the Supreme Court to try and stop his trial on charges that he stole and deceived five individuals out of €13 million, due to adverse publicity.
However the court allowed the prosecution to proceed and today Mr. O'Brien pleaded guilty to 14 sample charges dating from 2003 to 2008.
A tanned Breifne O'Brien (52), who is originally from Cork but has an address in Monkstown Grove in Co. Dublin, wore a blue suit and white shirt at Dublin Circuit Criminal Court.
He now admits defrauding friends and associates like farmer Louis Dowley and businessman Evan Newell - who was duped into handing over nearly €1 million for bogus property deals in Hamburg.
Several years ago a High Court judge described the scam as a Ponzi scheme.
Defence barrister Patrick McGrath SC told Judge Patricia Ryan that his client has no previous convictions.
Lúan O'Braonáin SC for the prosecution did not object to Mr. O'Brien remaining on bail ahead of sentencing which is likely to take place in late July.
He said the hearing would probably take a day as it is a 'complex matter' involving the 'interweaving of various strands of evidence'.
