Irish pensioner's life savings stolen in web of lies by accountant over 'almost 20 years'

A “curious case” involving an accountant, an offshore account, sports cars -  including a Jaguar,  the Celtic Tiger, lies, deception and, at its heart,  the theft of the life savings of a woman in her 70s, was laid out at Limerick Circuit Criminal Court.

The victim “invested” €73,722.66 in 2007 with accountant Sean Higgins, now aged 74, of Ballinvana, Kilmallock.

At one point, Mr Higgins told the woman, now aged 82, her money had increased in value to €124,954.

However, the court heard Mr Higgins had lodged €50,000 into his own back account and €23,722.66 into a business involving a son, called H&H Imports Ltd, shortly after receiving the money from the injured party. To date, he has paid back €5,000, with Judge Colin Daly saying he is “rapidly running out of time”.

Mr Higgins pleaded guilty to making gain or causing loss by deception contrary to Section 6 of the Criminal Justice (Theft and Fraud Offences) Act, 2001.

The injured party, in her victim impact statement, said “the whole thing with Higgins has made me upset”.

“I didn't sleep thinking about this case - sleepless nights - the stress of it. I was so worried about going to court. I'm years and years trying to get my money back. If I had left my money in the bank, I'd have gotten a lot more. It's all lies from him. I never want to see or hear from that man again, all he has done to me. I want to put all this behind me and never, ever think of him again.

“I've to see him pass down in his big car and he said he won his case, on Facebook, someone told me. I don't want to see or hear from him again,” she outlined in her victim impact statement.

Prosecuting barrister, Lily Buckley, read out the victim impact statement on the victim’s behalf. Ms Buckley, who was instructed by State solicitor Padraig Mawe, outlined the evidence with the assistance of Sergeant David Higgins.

Ms Buckley said the victim had had an offshore account, and wished to regularise matters and invest the money. Mr Higgins, who had been doing her accounts for some 12 years, was recommended to her.

“There were monies (€73,722.66) withdrawn in two bankdrafts in 2007 - one for €50,000 and one for €23,722.66. Ultimately, the €50,000 ended up in the account of Mr Higgins and the €23,722.66 was lodged to a business - H&H Imports - he and his son were involved in,” said Ms Buckley.

Sgt Higgins said the business was overdrawn by €29,000 at the time. Ms Buckley said Mr Higgins brought the victim to lunch after she had given him the money. She was “promised” returns of 7% per annum from August 1, 2007.

“It was her impression that the money was invested which was a complete deception. He was consistent with 7% returns in the letters over the years until matters escalated and different language was used - annuities, bonds, and assets started to be mentioned,” said Ms Buckley.

Sgt Higgins said over the course of eight years the victim received 16 letters in correspondence referring to the "fictitious investment”.

“All letters were on headed paper from Mr Higgins accountancy firm and signed by Mr Higgins,” said Sgt Higgins.

In 2015, Mr Higgins told the woman her investment had grown to €124,594.

Ms Buckley said the victim “rang and rang” Mr Higgins to withdraw her money and called to his house, waiting outside the gate.

“She would get a letter saying it’s a good investment, all investments are guaranteed by him personally, encourage her to leave the money with him and ‘it would take as long as it takes’. She was met with a wall of correspondence,” said Ms Buckley.

The prosecuting barrister said the victim went to solicitors who wrote to and received the “same replies” from Mr Higgins. She subsequently went to gardai who searched Mr Higgins home and seized his computer.

After Mr Higgins was arrested and questioned by gardai in 2020, Sgt Higgins said the accused “tried to confuse matters” by saying it was a loan from the woman.

“It is contrary to every single document found,” said Sgt Higgins. When gardai confronted Mr Higgins with the correspondence of 7% per annum, he replied: “It looks like I have shot myself in the foot, I will have to pay her that”.

Mr Higgins told gardai he was “not exactly poor” and said he had an asset - 1955 Jaguar XK140 - valued in excess of €130,000. Ms Buckley asked Sgt Higgins if there were cars of value in the defendant’s name.

“Yes,” said Sgt Higgins.

“None of them have been sold to give money to the victim?” asked Ms Buckley.

“None,” said Sgt Higgins.

Ms Buckley said Mr Higgins paid the injured party €5,000 last December and the case was adjourned in February, March and April after the court was told that a property would be sold to repay the victim.

Sgt Higgins said no property has been sold.

Lorcan Connolly SC, who represented Mr Higgins, said it was a “curious case”.

He said H&H Imports was an enterprise involving high-end cars involving his client and a son.

“It was 2007, the Celtic Tiger, the country was awash with money, everything was only going one way. Celtic cubs were buying high-end cars. There were great hopes for the business. It was in that context that the promise of this bountiful 7% was made.

"Unfortunately H&H Imports went to the wall. From that moment on, everything Mr Higgins did was to effectively put his head in the sand and made promises to this woman that he was going to make good on the money,” said Mr Connolly.

Counsel said banks went bust and businesses closed in the crashing downfall of the world banking system and Mr Higgins was a microcosm of that.

“The company was gone, the money was lost. He continued to convince himself that he could turn things around. Unfortunately, his investment swans became geese,” said Mr Connolly.

Counsel said Mr Higgins’ liabilities exceed his assets. He said there are a couple of old cars but Mr Higgins instructs that he has tried to sell them but the market is non-existent.

Mr Connolly said one property valued at €80,000 has a mortgage of €322,000 on it and Mr Higgins is selling a second property to a grandson.

“It has proven longer than expected. He wishes to atone and fund the restitution that he knows he must to this lady, who is entitled, at this juncture in her life, to get her money and to get it as soon as possible,” said Mr Connolly, who asked Judge Daly to afford his client an additional period of time to make good the loss.

Mr Connolly said Mr Higgins has no previous convictions, is a separated man, lost a son in a tragic road traffic collision and has a complex medical history. He also said that prior to this, the dealings between the parties were successful and Mr Higgins resolved the problem involving an offshore account.

Judge Daly said he will pass sentence in November which will afford Mr Higgins some time but he is “rapidly running out of time”.

“The victim has been seeking the return of her money for some 10 years now, and today she's really no further along in getting it returned.

"Mr Higgins has been making promises for almost 20 years now. He will have until November to come up with restitution. If he does, then I'll take a certain view of things, and if he doesn't, then he'll just have to take the consequences and the sentence that the court imposes,” said Judge Daly.

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