The company owners have been sentenced to prison for not transferring their share from the sale of real estate.

Two directors of a real estate company, who failed to transfer the proceeds from the sale of homes to clients outside the state, were sent to prison. The lawyers for Sean Boylan (72) and Colin Horan (38) stated in court that they had no plan to deceive clients, and that the violations occurred due to poor business management.

According to the Dublin Criminal Court, the company's operating practice was a "classic case of Peter robbing Paul." In some instances, clients received payment not from the sale of their own properties, but from funds obtained from other sales.

Boylan from County Kildare, Cavan, and Horan from County Donegal, Dublin, pleaded guilty to two counts of engaging in business activities with the intent to defraud the company's creditors between June 1, 2012, and July 31, 2015. Following a hearing this week, Boylan was sentenced to three years in prison, while Horan received a sentence of two years and two months.

The court reviewed the previous charges. The investigation established that in 2010, both men became the sole directors of a company engaged in real estate sales in Bulgaria and Turkey. The company, previously known as Extra Sales Consulting Limited, trading under the name Extra Sales and later renamed M&M Marketing Strategies Limited, is no longer in existence.

Investigator Garda Rebecca Devaney informed prosecutor Ivan Coelho that in 2010 both men became the sole directors of a company engaged in real estate sales in Bulgaria and Turkey. The court reviewed previous charges.