Belfry - Ordinary people, Extraordinary losses - Part 1
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Belfry - Ordinary people, Extraordinary losses - Part 1
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After months of investigation, Currency Media presents Belfry, a powerful two-part podcast that uncovers the hidden story behind an extraordinary story — and the ordinary people left to carry its weight.
Between 2001 and 2006, AIB sold a series of funds to more than 2,500 individual investors. They were branded as the Belfry funds.
AIB raised approximately €300 million and channelled it into UK commercial property deals. Belfry 1 was a runaway success. Investors saw returns as high as 250 per cent. But Belfry funds two to six failed. Thousands of investors were left with nothing.
Through first-hand accounts, documents, and reporting, Belfry exposes how a series of institutional failures and human decisions combined to create a devastating loss.
Edited and written by Francesca Comyn and produced by Ian Kehoe, Belfry investigates a dark chapter for one of Ireland’s biggest banks.
Part two will be published on Thursday.
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