One, David Piele (40), appeared in Dún Laoghaire District Court on Tuesday on a remand application. Piele, a UK national living at Rectory Way, Bray, Co Wicklow, faces charges of deceiving a Swedish investor of £52,000.

Garda Siobhán Moore of the Garda National Economic Crime Bureau sought to have Piele remanded in custody.

She said that Piele was a flight risk due to the serious nature of the charges he is facing, because he is not an Irish national, because he travels regularly to the UK and to Spain where he has business interests and because more serious garda charges against him were possible.

However, defence solicitor Michael Staines disputed that his client was a flight risk – Piele has been aware for a long time that he was facing charges yet had not absconded.

He was present at his home when arrested, he had no previous convictions and there were no warrants outstanding for his arrest. His client was prepared to remain within the jurisdiction while charges were being processed, Staines said.

In addition, the court heard that Piele has a partner and two children in Ireland.

Judge Ann Watkins granted Piele bail conditional on payment of €5,000 and a further €5,000 bond. He will appear again in court on 21 March.

The investigation began after Swedish national Kari Wahlstrom made a complaint to gardaí claiming he had paid £52,000 to Piele in February 2016 to invest in Irish forestry land, but had been deceived.