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Germany's Dolphin Trust was a pyramid scheme, causing devastation for investors A German property group has gone bust, with indications it was a seriously fraudulent enterprise. Although nowhere near as known as the Wirecard scandal, the case is arguably far more consequential for ordinary people. Dolphin Trust founder Charles Smethurst (right) juggled with money that belonged to ordinary people But there's another German company that has plummeted to Earth after a more than €1 billion hole emerged in its accounts. Except unlike with Wirecard, this was money that once actually existed and ...

'My pension is gone' - Irish investors count cost of German 'pyramid scheme' More than 1,800 Irish people put their faith in Dolphin Trust, a German property company that has gone bust. • 22 Apr 2021 Prime Time Reporter John Martin Shek thought he had done his homework. He had read the promotional brochures. He had gone online and checked out the company. He had listened to his financial advisor. "Everything seemed perfect. Hunky dory. Lovely company to invest in," he said. And then it wasn't. John is the first Irish person to speak on camera about his experience with Dolphin Trust, the G...