In 2011, Kieran Wallace and Eamonn Richardson of KPMG were appointed liquidators following regulatory intervention, due to suspicions of misappropriation of client funds.
[1][2][3] The firm was established in 1997 by Patrick O’Sullivan and Tony Burke with Cassidy joining in 1999 from Guinness Mahon.
By 2009 CHC had built up a base of over 2,000 clients and had approximately €1.2 billion of assets under management but had been under surveillance by the Central Bank of Ireland and Financial Regulator because of operational concerns.
[7][8][9] Various notable individuals had been invested in the companies funds including Donncha O'Callaghan, Ronan O'Gara and Brian O'Driscoll.
Harry Cassidy was the cofounder and Chief Operating Officer of CHC during the period of 2008 to 2011 when the conspiracy occurred and was sentenced to seven years in jail.