Stuart Pearson (Ireland)

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Stuart Pearson (born c. 1984) [1] is an Irish convenience store worker whose name was linked to a number of investment rumours in 2008. [2] In 2009, the claims of Pearson's wealth and investment proposals were reported to have been a hoax. [2] [3]

Contents

Biography

In reports published in December 2008, Pearson stated that he was 24 and from Arklow, where his family owned a Burmah petrol station. [4] [5] By 1998 they moved to Carlow where he claimed to own 'The Foundry' nightclub. [5] (In fact, The Foundry is part of the Dinn Rí Hotel complex [6] owned by the McLoughlin family. [7] ) Pearson claimed to have qualified as an accountant in Portlaoise around 2008. [4] He moved with his wife and two daughters to County Kilkenny, [8] where he rented a house in Goresbridge [9] and worked in a convenience store in Graiguenamanagh. [8] [9] According to contemporary reports, he was attacked in a robbery on the shop in January 2008. [10] [11] In May 2009, The Irish Times reported that he had separated from his wife, who claimed to have no knowledge of his business dealings; and that locals in Goresbridge were surprised by and sceptical of the reports of Pearson's extreme claim of wealth. [9]

Purported investments

In interviews, Pearson claimed to have inherited money from relatives in 2003. [5] [8] [12] This was reputedly held by trustees until 2008, [8] who were claimed to have invested it in property in Ireland and Britain. [8] [13] [14] The trust was reported to have property in Ireland, [15] to have paid £940m for two retail properties in London, [12] bought several units on Dublin's Grafton Street; [12] and earned up to €800m from an investment in New York City. [16] [17]

In October 2008, Pearson was reported to have been negotiating to buy Taggart Holdings, a housebuilding firm based in Northern Ireland which was in administration with debts reported at €150m. [8] [13] [14] [16] In December 2008, it was reported that he might invest in Aer Lingus, [17] and subsequently that he might launch a takeover offer of up to €900m, funded from a war chest of €1.5–2b. [18] In 2009, he was reported to be planning to build a retirement village in Arklow, and to start an insurance company. [4] He was claimed to be a supporter of several charities, and in April 2009 he proposed to produce a DVD showcasing investment opportunities in the Carlow/Kilkenny region. [19]

In May 2009, all of the claims made by Pearson were reported to be hoaxes, reputedly started to attract "attention". [3] In some reports, Pearson was described as a "Walter Mitty" character who "[did not have] two cents to his name". [3] In other reports, a family member was quoted as stating that Pearson had worked in a fast food take away and as a barman, and was "living on a shoestring". [1]

In August 2009, Pearson was charged with trading without a licence and selling alcohol to underage people. [20]

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References

  1. 1 2 "'Billionaire' is a sweet shop owner in Graiguenamanagh". New Ross Standard. Independent News & Media. 22 May 2009. Retrieved 24 August 2020.
  2. 1 2 Parsons, Michael (15 May 2009). "'Billionaire investor' is sweet-shop owner". Irish Times . Retrieved 17 May 2009.
  3. 1 2 3 McKittrick, David (20 May 2009). "'Sweet Shop Swizzler Claimed He Had Billions'" . The Independent . Archived from the original on 25 May 2022. Retrieved 3 August 2010.
  4. 1 2 3 Coleman, Deborah (24 December 2008). "Arklow highflyer in Aer Lingus bid". Wicklow People . Retrieved 15 May 2009.
  5. 1 2 3 "Arklow C.B.S.: Not all doom and gloom". Wicklow People . 21 January 2009. p. 1. Archived from the original on 16 July 2011.
  6. ↑ "Dinn Rí Entertainment Complex – profile" . Retrieved 15 May 2009.
  7. ↑ "Days of town- centre parking at Plás na Saoirse numbered". The Nationalist . 27 February 2008. Retrieved 15 May 2009.
  8. 1 2 3 4 5 6 Keys, Laura (29 October 2008). "Young gun investor eyes property giant". Kilkenny People . Archived from the original on 5 December 2008.
  9. 1 2 3 Parsons, Michael (15 May 2009). "'Billionaire investor' is sweet-shop owner". The Irish Times . Retrieved 15 May 2009.
  10. ↑ "Shopkeeper attacked in terrifying robbery". Carlow People. 9 January 2008. Retrieved 15 May 2009.
  11. ↑ "'Give us €10,000... we have your wife and two daughters'". The Nationalist . 16 January 2008. Retrieved 15 May 2009.
  12. 1 2 3 Mulligan, John (25 October 2008). "Hotshot developer eyes Taggart businesses". Irish Independent .
  13. 1 2 O'Halloran, Barry (30 October 2008). "Interest shown in Taggart properties". The Irish Times .
  14. 1 2 O'Halloran, Barry (7 November 2008). "Potential Taggart buyer contacts PwC". The Irish Times .
  15. ↑ "Bid for Taggart Holdings". Carlow People. 28 October 2008. Archived from the original on 16 July 2011.
  16. 1 2 Mulligan, John (13 November 2008). "Pearson to bid soon for Taggart". Irish Independent .
  17. 1 2 O'Halloran, Barry (18 December 2008). "Pearson Holdings emerges as possible Aer Lingus investor". The Irish Times .
  18. ↑ Mulligan, John (20 December 2008). "Pearson to battle Ryanair in outright bid for Aer Lingus". Irish Independent .
  19. ↑ Coogan, Naoise (17 April 2009). "Millionaire businessman to make DVD to attract new business". Carlow First. Galway Advertiser. Retrieved 15 May 2009.
  20. ↑ "'Aer Lingus bidder' accused of selling vodka to youths". Wicklow People. Independent News & Media. 6 August 2009. Retrieved 17 August 2020.
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