herald

Saturday 18 August 2018

Gardai now probe DJ's missing money

HURT: Sport legend's agony at crisis in his struggling cleaning company

GARDAI are continuing to investigate how hundreds of thousands of euro is missing from hurling superstar DJ Carey's cleaning business.

The probe into a number of unauthorised transactions at DJ Carey Enterprises is ongoing after the hurling legend asked gardai to probe how the money had vanished.

He is now battling to save his business and has revealed how the company's difficulties are taking a toll on him.

"Nobody likes this to happen. You don't sleep. People did business with me because they know me, and unfortunately now there is nothing left.

"My company is me. It has been a big part of me for 18 years.

It's embarrassing, it's shameful, it is hurtful. It's really not nice at all," he told pals.

On Tuesday, it emerged that DJ Carey Enterprises is €1.7m in debt and facing possible collapse.

Mr Carey and his partner, Dragons' Den TV star Sarah Newman, are now directors of this business.

The pair had to write off €200,000 of "unauthorised transactions" which were uncovered by auditors after a probe into missing money at DJ Carey Enterprises.

The problem was first discovered by auditors Carey & Associates in 2008, but the full extent of the missing money was not revealed until a year later by new auditors Brophy Gillespie.





Creditor

It is understood the cash cannot be accounted for by receipts or payments.

Auditors said they "were unable to obtain sufficient and appropriate explanations and evidence from a former employee" about the unexplained transactions.

Mr Carey pumped over €600,000 of his own money in loans to the firm and he will be the largest creditor at next week's meeting.

Ulster Bank is owed around €170,000, a portion of this is covered by a personal guarantee from Mr Carey.

"The biggest creditors are myself and Sarah. We are owed €2.2 million between us in total. This is money we have put into the business ourselves," he added.

Locals in Gowran, in Co Kilkenny, expressed sympathy to DJ Carey on the debts his business has accumulated.

A GAA source described DJ Carey as "very decent" yesterday, stating that he was a real gentleman.

"He's not around Gowran as much as he used to be. He wouldn't just walk down to the local pub every Friday night because he does his own thing. People see him as doing his thing in business.

He's not as involved in the community any more, but he is admired and loved because he is DJ Carey."

hnews@herald.ie

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