Local man's assets frozen in property investigation

A County Londonderry man who is being investigated over an alleged property fraud in Turkey has had his assets frozen.

Kevin O’Kane, from the Bellaghy area has denied claims he was involved in a scam which saw a number of families handing over substantial amounts of cash for Turkish properties they discovered they do not own.

The Judge, Mr Justice Deeny made the order on the application of Brian Oliver Muldoon, also from Bellaghy who claimed to have paid £70,000 for a home with fake deeds.

Mr O’Kane allegedly acted with a Turkish property developer and sold homes to about 80 Northern Ireland investors which they never received.

The High Court today heard that Mr O’Kane owns an extensive property portfolio in the province, as well as a fuel business.

He has been allowed a weekly living allowance of £400 along with £1,000 for legal expenses.

The businessman was not in court, and Mr Muldoon’s barrister Jonathan Dunlop said it was understood that he had been detained by Turkish authorities following a police investigation.

He also revealed it was estimated that £2.5m had been handed over in payment for properties at Golden Beach Villas in Bodrum, Turkey.

Mr O’Kane, whose passport has been confiscated by Turkish police, was taken to Bodrum for questioning before being released on bail.

An application is expected to be made today at Belfast High Court to freeze the assets of the local businessman.

Mr Justice Deeny said he accepted there was a real risk of Mr O’Kane disposing of his assets and an injunction to freeze them was appropriate.

(JM/SP)