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    4
    Feb
    2013
    12:18pm, EST

    Irish tycoon found wandering in road claims he was kidnapped for 8 months

    By Ian Johnston, Staff Writer, NBC News

    An international property tycoon found lost, emaciated and with the word "thief" written on his forehead on a country road in Ireland has claimed he was kidnapped and held for more than eight months.

    Police said investigations were continuing into the apparent ordeal of Kevin McGeever — who had business dealings in the United States and Dubai — but said he had been "quite vague in his recollection of events."


    Superintendent Pat Murray said in a telephone interview Monday that the 68-year-old McGeever had "lost some weight and appeared disheveled and had some beard growth," when he was found Tuesday last week by a couple driving along a road near Ballinamore, County Leitrim, not far from the border with Northern Ireland. 

    McGeever claimed he was abducted from his home in the village Craughwell, County Galway, about 70 miles away, on May 27 last year, police said. He was, however, only reported missing on June 22 by his partner Siobhan O'Callaghan.

    Media reports have speculated about the involvement Russian mafia, dissident Irish militant groups and border smuggling gangs.

    But Murray said police did not have any "definite intelligence of any gangs being involved," saying the case was "very mysterious."

    "He [McGeever] is very vague on any kind of detail in relation to what is alleged to have happened to him," he said. "It is only an allegation at the moment."

    Murray said reports the word "thief" was carved into McGeever's forehead were untrue, saying the word was written in ink.

    The officer said some people had come forward to claim McGeever owed them money, but he added he did not know "how credible that is until we delve into that more deeply."

    Police 'hopeful'
    Murray said police had spoken to McGeever, who is being treated in a hospital, but planned to have a more formal conversation with him later.

    "We're hopeful we'll get to the bottom of exactly what happened in this situation," he said.

    Murray said that McGeever had business dealings in the United States and in Dubai.

    The tycoon was found wandering in the road by Catherine Vallely and Peter Rehill as they drove home.

    “When the man got into our car he told us he had no shoes on. I said he could have been killed in the middle of the road and he said three men threw him out of a van,” Vallely said, according to the Irish Examiner.

    “I was surprised. I thought he might have Alzheimer’s or something like that. The man said his name was Kevin and he didn’t realize he was in County Leitrim. He didn’t even know the month, the day or the time,” she added.

    Vallely said McGeever called a friend and they agreed to drive to a supermarket car park, but instead stopped at the police station in Ballinamore, where he was given tea and biscuits.

    “He said he hadn’t eaten for God knows how long. He had a pair of enormous eyes in a very thin face and his cheekbones stuck out,” Vallely said, according to the Examiner. He was rubbing his beard with fingers that had long nails. He was very well-educated, well-spoken, and polite and articulate.”

    The Sunday Independent newspaper reported that McGeever was a “wealthy property developer who sold apartments in Dubai.”

    The paper said his mansion at Craughwell was nicknamed “Nirvana” by local people because of its opulence and that his cars included a Ferrari and a Porsche.

    Nicola Cooke, a journalist with The Sunday Business Post, said McGeever clearly had "all the trappings of wealth," but was "very much a man of mystery."

    She said he was not well known as a businessman, saying he appeared to have been mainly involved in selling apartments in Dubai for about $130,000 to ordinary people in Ireland.

    29 comments

    "stopped at the police station in Ballinamore, where he was given tea and biscuits." ahhhhh the joys of being found emancipated and wondering in the Irish countryside.

    Show more
    Explore related topics: ireland, kidnapped, property, united-states, tycoon, dubai, featured, kevin-mcgeever
  • 21
    Mar
    2012
    2:49pm, EDT

    One third of land in debt-ridden Greece is up for sale

    John Kolesidis / Reuters

    A man walks next to policemen outside an Eurobank branch in Athens, March 21.

    By Alastair Jamieson, msnbc.com

    One third of all land in Greece is up for sale as the debt-crippled country tries to raise money from state assets, a state official reportedly said Wednesday – but little of it will help those wanting to snap up a dream home in the sunshine.

    Greek authorities are touting billions of euros worth of government-owned land in order to finance international bailout loans totaling $227 billion over the next few years.


    However, most of the sites are in industrial zones or tied to facilities such as airports, highways and energy firms, according to a report by Turkey-based news Web site Hurriyet Daily News.

    The report said Greece is targeting its immediate neighbor, Turkey, as potentially a large source of investment.

    “One third of Greek land is on sale,” the report quoted Panos Protopsaltis, head of the Privatization Program of the Hellenic Republic Asset Development Fund, as saying.

    Customers flock to Greek farmers selling cheap spuds

    The organization is offering some 50 billion euros worth of assets for sale, and hopes to generate nearly 19 billion euros in cash by as early as 2015, the report added.

    A truck assembly plant, sewage works and ports are also up for grabs, along with land on some of the country’s islands popular with tourists.

    But tough rules on property transactions in Greece, coupled with an absence of spare land in the most sought-after areas, make it unlikely the country will see a huge influx of private buyers looking to take advantage of the 30 per cent drop in house prices over the past three years.

    “Unless you have the cash to buy outright it is very difficult because the Greek banks simply aren’t lending,” UK-based property investment consultant Simon Conn told msnbc.com. “In addition, there are requirements such as having the legal documents translated into your own language. Also, buyers need to be careful. There is a reason a piece of land or building plot is up for sale in the first place; if it seems too good to be true, it probably is.”

    PhotoBlog: Greek soccer match abandoned after fan-police clashes

    There are also concerns Greece could suffer further economic difficulties in the future, making it a risky proposition for anyone wanting a holiday home in the sun.

    A spokesman for Internet property site Rightmove Overseas told msnbc.com: "When the Greek economy first hit the news back in June 2011, we saw a jump of 50 per cent in searches for Greek island based properties compared to the month before. Greece has been in the top 10 most popular countries ever since, potentially fuelled by speculative investors looking for a low priced investment opportunity.

    "However, we see Greece mainly as an opportunity for experienced investors; if you want to buy an office block in Athens, rather than a retirement home overlooking the sea, then now is a suitable opportunity."

    Cartoon: Greece bailout

    Greece has recently received the first installments of its rescue loans, including $7.8 billion from countries that are in the Euro currency zone and a further $2.1 billion from the International Monetary Fund.

    In exchange for the support, Greece has agreed to deeply unpopular austerity measures such as cuts to wages and public services, including hospitals.

    More from msnbc.com and NBC News:

    • 3 cops hurt in shootout with under-siege suspect in Jewish slayings
    • Tears, defiance at French shooting victims' burial
    • Finally, UN reaches agreement over 'extremely dangerous crisis' in Syria
    • Reports: Pirates free British tourist after relatives pay ransom
    • Damage to world's oceans could hit $2 trillion a year, experts say
       

    Follow us on Twitter: @msnbc_world

    183 comments

    Coming to a country near you soon, IF the incumbant president on training wheels were to be re-elected, which he will not. The Obama Administration: Ineptocracy (in-ep-toc'-ra-cy) -- a system of government where the least capable to lead are elected by the least capable of producing; and, where t …

    Show more
    Explore related topics: europe, euro, greece, investment, property, bailout, recession, featured

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