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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]

Biography

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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

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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]

References

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  1. ^ a b "'Billionaire' is a sweet shop owner in Graiguenamanagh". New Ross Standard. Independent News & Media. 22 May 2009. Retrieved 24 August 2020.
  2. ^ a b Parsons, Michael (15 May 2009). "'Billionaire investor' is sweet-shop owner". Irish Times. Retrieved 17 May 2009.
  3. ^ a b c 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. ^ a b c Coleman, Deborah (24 December 2008). "Arklow highflyer in Aer Lingus bid". Wicklow People. Retrieved 15 May 2009.
  5. ^ a b c "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. ^ a b c d e f Keys, Laura (29 October 2008). "Young gun investor eyes property giant". Kilkenny People. Archived from the original on 5 December 2008.
  9. ^ a b c 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. ^ a b c Mulligan, John (25 October 2008). "Hotshot developer eyes Taggart businesses". Irish Independent.
  13. ^ a b O'Halloran, Barry (30 October 2008). "Interest shown in Taggart properties". The Irish Times.
  14. ^ a b 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. ^ a b Mulligan, John (13 November 2008). "Pearson to bid soon for Taggart". Irish Independent.
  17. ^ a b 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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