A Dublin woman has been convicted of defrauding a friend of approximately €30,000 after exploiting the victim’s dream of investing in a Lanzarote bar, The Irish Times reports.
Geraldine McGrath (57) pleaded guilty to three counts of deception at Dublin Circuit Criminal Court. Over a five-year period from May 2016 to August 2021, she convinced her friend, now in her early 80s, to make regular cash payments for what was presented as a share in a business in Lanzarote.
The victim, who had spoken fondly of retiring to Lanzarote, used money from her wages, savings and pension to fund the fictitious venture. The court heard she now has no meaningful savings and faces limited financial means.
A detective told the court the two women had been friends since the 1970s and shared a holiday to Lanzarote. McGrath later claimed she was investing in a local pub and offered her friend the chance to invest through her.
The victim subsequently made weekly cash payments of between €100 and €450. Her family grew concerned about her finances in 2018, but a formal complaint was not made until 2022. McGrath initially denied the allegations before later entering a guilty plea.
The defence barrister said the case represented a “clear breach of trust” and a “mean-spirited offence”. He told the court his client is remorseful, and intends to repay the full amount. A proposed plan would see €200 set aside weekly for three years.
The judge directed an immediate payment of €3,000, with a further €1,000 due by this Friday. He ordered that a minimum of €11,000 must be repaid by next July. McGrath was remanded on continuing bail until 23 March 2026 for a progress update on the repayments.
Read the full report in The Irish Times here: https://www.irishtimes.com/crime-law/courts/2025/12/16/woman-deceived-friend-out-of-30000-with-fake-lanzarote-bar-scheme/
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