Investor Ian Lucey

Spotlight on Ian Lucey of the Lucey Fund in Ireland http://lucey.fund/

Ian Lucey – Angel Investor?

Ian Lucey operates the “Lucey Fund” aka Lucey Technology Ltd. He claims to have invested in over 150 companies. He also claims to have offices in Ireland, UK, Spain and USA.

Mr. Ian Lucey also claims to have a fund of €750,000 available to “…invest in founders that know their industry”.

Contributors to this website claim that Mr. Lucey makes his living by baiting startups. He pretends to be an investor to lure them in and then asks them to pay him a ‘deposit’.

By all accounts it seems that Mr. Lucey does not have any funds to invest and is posing as an investor so he can charge founders between €10,000 and €15,000 in upfront fees.

Looks like Mr. Lucey does not believe in paying his staff either…. https://www.glassdoor.ie/Overview/Working-at-Lucey-Fund-EI_IE2130365.11,21.htm

Do you have any further information that will help to protect startup founders from Fake Investors? If so, please add your comments below.

61 thoughts on “Investor Ian Lucey”

  1. I used to work for Ian Lucey at his offices… in the living room of his family home. While I was there I witnessed non stop calls from people trying to get their money back off him. He’d always shrug it off and blame them even though they went to him looking for investment and ended up paying him over €10,000 because he told them founders had to have ‘skin in the game’ if he was going to invest in them. They’d pay him €10k sometimes more, and he’d just keep it a say that was his fee for looking at their tech requirements. He did this to loads of startups in Dublin. He’s now posting that he’s an ‘Investor’ in these companies! They all hate him.
    I left because I did’nt like what I was seeing and I wasn’t getting paid. I’m still owed almost three months wages and he just wont pay it to me. He did the same to several other employees -just would’nt pay them for the work they did in his house, with his wife there. He was kicked out of this house in January because he couldn’t afford the rent. He’s finding it a lot harder scamming people in Ireland now as his name on the tech/srtartup scene is mud. This guy is a total disgrace has no shame. I know several people who say they’ve made complaints about him to the Garda for Deception. They think he is being investigated for this now and I hope its true. Complaints have also been made about him to Work Place Relations (WRC) and Office of Corporate Enforement (OCE) who I’m told are investigating him too. I’d be very surprised if someone didn’t mention the fact that he uses his company account as his own personal piggy bank to revenue. The sooner this guy is publically exposed for the damage he has caused to the start-up community the better. Take you ‘bait and switch’ shite elsewhere Lucey, your a total disgrace and everybody know it.

    1. Lucey Technology is actively advertising on F6S, the global network platform where founders get deals, list jobs and apply for funding. https://www.f6s.com/luceyfund1 so while the Irish market has dried up, he’s now recruiting abroad.

    2. Over 20 people can testify that the comments made on this online public forum are true and correct. This list is available to genuine journalists that want to check the the proof. Send contact details for the full list.

  2. I worked there to and watched on as Lucey sand his wife scammed founders out of there hard earned cash. This guy is a total disgrace and so is his wife Anna Doody who encourages him to rip people off so she can live in a big house and pay private school fees. Its great to see the pair of them were thrown out of Thornhill House for not paying their rent. Lets see how they do living within their means now that the entire country is on to them.

  3. This snake oil salesman is a well known liar. He does not have offices all over the world and he does not pay his debts. The startup community in Ireland has his card marked.

  4. He says he invested in 140+ startups. Everyone knows that’s a lie. He has a list of his investment companies here: – http://lucey.fund/investments/ The founders of these companies all hate him because he did not actually invest any money in them. Instead he talked them all out of large upfront payments and shares by making them believe he could help them. He’s so brazen he does not mind putting these company names up on his website as references. Contact the founders and see what they have to say about him.

  5. There is a very big giveaway on the http://www.lucey.fund website : No Telephone number and the address ‘Harbour Innovation Campus’ which does not exist. Not what you would expect from seasoned investors with over 140 investments under their belt. Totally delusional.

  6. Here is his sidekick xxxxx giving a talk at an event in Dublin. Look like he’s either really thick or as big a liar as Lucey. Talk about a career mistake!!

    1. Very surprised to see somebody with this level of education continuing to work for a company like this. To accept a position as XXX knowing that staff are not being paid is crazy. Personally I wouldn’t accept a job where I had to lie to both past and present employees about why they hadn’t been paid. My conscience would definitely get the better of me. Any credibility he once had is now in ruins.

    2. Ouch! It wont be easy finding another job after knowingly supporting Lucey for the past couple of years. XXXXX is about to find out how small the Irish tech/startup community is. Good look in Sydney.

  7. Very nice to see this well know Bully finally being publically exposed for what he is. A little too late for so many would be founders unfortunately.

  8. Some very interesting points of view here. Have to say that I do agree that it is frankly shocking that somebody can pay €6,500 per month renting a home and at the same time have no money to pay their staff. I am more surprised that things like this have not appeared online sooner. The amount of people who have brought cases to the WRC for such a small company is quite staggering. It also highlights an issue in this country with employee rights. The fact that employers can drag situations like these on for months without stricter penalties is something that should be looked at. What we have here is an employer with a flagrant disregard for employment law. During my time at this company I witnessed very few successful projects. What I did witness was a situation where money was squandered and a basic lack of understanding of how much things cost to build. Cutting corners is never an answer. All of this in turn knocks on to some very unhappy clients who don’t get delivered what they signed up for.

  9. Let’s dispel any doubt. There is no Fund and there never has been. Clients pay to get their projects started and then it all hits the skids when there is no money to pay developers, staff etc.
    You have an “investor” who is risking client’s money, not his own.
    What you have here is an egotistical individual with an elevated sense of entitlement. If anybody really wants to find out what this person is all about then they only need to speak to past clients and see what has happened to them. It may also be worth speaking to past employees as the vast majority don’t have anything good to say about him. From my experience dealing with this individual I found him to have a severe allergy to telling the truth. It was endless lies to get through to the next week.

  10. Has any one else noticed the blatant lies Ian Lucey has published on his Linked In Profile regarding his “Lucy Social” initiative. He’s claiming to have donated €250,000 worth of development time, whatever that might be to good causes. Oddly he does not mention any names of the good causes he has supported over the past 8 years. Lucey cannot pay his staff or creditors but pretends to help charities. Surely there are rules to prevent total nonsense like this being posted on Linked in?

    If your organisation has been thinking about a specific project or you would like further information please contact Lucey on [email protected] ref: Lucey Social.

    Founder
    January 2011 – Present 8 years 6 months
    Lucey Social is a Division of Lucey that donates Development and Technical resources to social causes. To date Lucey Social has donated over €250,000 in development time to a range of good causes.

    Our philosophy is that we want to help people and organisations use technology to make their organisation better at what they do. One of the problems that charities or socially focused organisations run into is that they cannot afford the initial investment or they don’t understand how to go about implementing technology that would allow them to drive down their costs or increase the service they provide.

    We are very happy to donate a large portion of a projects cost and provide the technology leadership to organisations that are striving to make the world a better place

    1. He supports the ‘Lucey Lifestyle’ cause. It’s a great little venture. Money comes in and he uses it to pay for holidays, golf, restaurants, lavish property rental. All made possible by not paying employees. Would also love to know where this office in Milan is that he has on some of his online profiles. Absolute Walter Mitty stuff.

  11. This guy is the Harvey Weinstein of the start up community. He has no respect for staff, customers or just human beings in general. It is incredible that he has been allowed to continue for as long as he has. He actually threatens anybody who speaks out about what he is doing and it is disgusting that he can maniplulate people into feeling like they have no option but to take his abuse. The reality is that he is a sociopath with delusions of grandour. Any investigation would uncover fraud, with multiple official documents falsified. To be fair, he is not the smartest person that I have ever meet so I am pretty sure he is going to be uncovered very soon, and when he is, it is going to make an amazing read of deceipt and incompetancy. Dublin’s worst kept secret coming to a newspaper near you soon, with the Gardai and DPP following up pretty quickly after! #metoo

  12. Ian Lucey and his wife Ana Doody are directors of Stylefinch Ltd which has just been STRUCK OFF! How much more can this couple do before the Gardai and the Office of the Director of Corporate Enforcement hold them to account.

    Stylefinch Limited – Irish and UK Company Information …
    Stylefinch Limited was set up on Thursday the 21st of January 2016. Their current partial address is Co Dublin, and the company status is Struck Off. The company’s current directors have been the director of 68 other Irish companies between them; 49 of which are now closed. Stylefinch Limited has 3 shareholders.

    1. Wow. This is a very serious schoolboy error for somebody so slippery. I’m sure he must be aware that should the Director of Corporate Enforcement make an application to the High Court then he could potentially be disqualified from having any involvement in the management of any other company.

  13. IAN LUCEY’S LATEST GLITCH
    Date: July 25, 2019 – The Hot Water Brigade

    Ian Lucey

    GOLDHAWK’S favourite tech investor, Ian Lucey, is dealing with some major bugs at one of his companies. Already locked in a High Court battle. Lucey Technology Ltd (LTL) has just had yet another judgment registered against it by a creditor, this time by the dreaded taxman.

    LTL is Lucey’s investment vehicle, through which he has funded fledgling tech start-ups since its incorporation in 2009. Until 2016 and Enterprise Ireland has invested €20,000 in the company in the form of convertible preference shares.

    The sailing has been anything but smooth at LTL for the past couple of years and the Mount Merrion outfit lost a hefty €1.3m in 2016, bringing accumulated losses at the firm to over €1m at the end of March 2017. Worryingly, creditors like Tinstring Ltd – a Dublin-based tech consultancy owned by Dermot Casey – have also had to go to the Circuit Court seeking to recover debts from Lucey’s firm.

    Tinstring registered a judgment for €30,000 against LTL in 2016 after providing services to the company for which it was never paid (see The Phoenix, 26/8/16). That debt was satisfied last year, but LTL still owes its former auditors, Anne Brady McQuillans DFK, some €32,000 after the number crunchers registered a judgment against it in 2017 (see The Phoenix, 3/11/17).

    In 2016, LTL faced a winding-up petition in the High Court from the Revenue, which was subsequently withdrawn. Now the taxman has come knocking again, registering a judgment for €140,000 against the investment vehicle late last month.
    Meanwhile, there was some activity last week in a potentially costly High Court action against LTL and Lucey.

    Fans of Goldhawk will recall that a High Court action was launched against Lucey and LTL last November, looking for specific performance on a contract relating to the project (see The Phoenix, 19/1/19). Lucey and LTL’s legal eagles were in court last week, where they were granted an extension to enter an appearance in the matter.
    Watch this space.

  14. Was delighted to have stumbled across this site. It’s high time that all of this stuff has come to light. Complete disrespect for both employees and clients has stayed out of the spotlight for years.
    It’s just a pity that the clients that have been so badly treated over the years have not come forward. I know some have signed Non disclosure agreements that keep any dealings quite but I can’t see them all signing them. It’s difficult enough for small businesses today without having to deal with the likes of this.

  15. It’s very easy for journalists to fact check his lies on his YouTube videos. See examples below.

    https://www.youtube.com/watch?v=5he-Z6GSO_o

    8.00 We had 200 applications when we launched our fund, using a made up figure of €750k FALSE
    8.10 To date we’ve probably deployed €13 or €14 million if not more FALSE
    8.39 A lot of people say your not an investor and we don’t really care about that
    9.22 We’re really interested in starting companies that’s kinda what we do FALSE
    12.33 58% of the companies we’ve invested in have only one founder FALSE
    20.18 We get 5,000 applications a year FALSE
    42.18 In the 118 startups that we have, we probably have five good ones FALSE
    46.05 Were actually going to launch a VC fund next year that just heavily invests in our best 3 or 4 companies. The target is there for you. FALSE

    1. What a joke. Heavily invest in our best 3 or 4 companies? With what? It’s common knowledge that he can’t even afford to pay his staff. Would love to see how much the legal fees have been to stop these startups taking him to court.

  16. This guy is an utter disgrace. He doesn’t care about taking Startup’s hard earned money knowing full well that he doesn’t have the resources to complete the project or indeed offer anything of value to it. The amount of failed projects is astounding. Ian lucey will blame the startups but the harsh reality is that these projects and companies fail because the ‘Lucey Fund’ has not funded 70% of development costs as stated that they would. Projects are then just left in hiatus. But who cares? Certainly not Ian Lucey. It’s not his company he is messing with and his dreams he is destroying.
    A note to anybody thinking of contacting this individual about a new idea. Do your due diligence and then run a mile. Just ask people like Frank Kelly of zoomcouriersoftware about their dealings with him. I’m sure he will tell you about the constant lies and complete rubbish that he had to deal with where the progression of his project was actually hindered by the Lucey Fund. Fair play to him. His no-nonsense approach won out in the end. One of the truly good stories where a founder overcomes severe adversity to succeed.

  17. I am a “client” and got screwed on this too. I got a contact of a journalist in Irish times, so besides suing Ian and Jamie, I am going to do that quite publicly so no one else get screwed again. If any of you wants to give a testimonial, please let me know.

    1. I also was in Contact with a journalist. Apparently the only thing that has stopped any stories appearing were fear of defamation. I think with the amount of startups that have all encountered the same issues that won’t be a problem anymore. Also, I hear there are a number of people who have been in the employment of Ian Lucey/LuceyTechnology/Lucey Fund who are willing to speak of how they were treated. I assume employees from Pixalert will also follow. They were a group of employees who went from being paid on time to the utter nonsense of working for Ian Lucey.

  18. I’ve some quite popular newspapers in Ireland and Sweden interested in publishing about this story. So if you want to step up on or off the record. Please let me know.

    1. As far as I know a very prominent Irish newspaper is already sitting on a story. I also don’t think it would be any harm for somebody like Joe Duffy to get hold of this story. After all it’s hard working people that are being affected here through the actions of one person. Why should one person prosper at the expense of others? This country needs entrepreneurs with good ideas and people like Ian Lucey just deter people.

  19. Worked for this “investor” and couldn’t believe his attitude towards staff and clients. Not paying his employees and not delivering projects for clients. He’s no better than somebody robbing a shop at knife point. It’s pure blue collar crime in my opinion. If you can’t deliver then you shouldn’t take people’s hard earned money.

  20. Interesting to hear that XXXX XXXXXX of XXXX XXXXXX is working closely with Ian Lucey. That’s one good way of ruining your business before it has even gotten off the ground. Ever hear the expression Guilty by association?

  21. I had always assumed that Anna Doody was in the dark on everything that went on. I mean how else can you understand how somebody would stand by as their husband caused severe damage and distress to people with families. I have heard from people lately who worked in their house that she knows quite a bit more than I would ever have imagined. If this is in fact the case then shame on you for not doing something about it.

  22. Is Anna Doody living off his ill gotten gains also?… Anna Doody @AnnaDoody Communications Consultant @LuceyFund. Project Manager 

  23. I worked for this guy and I can honestly say that you will have to go a long way to encounter somebody else like this. He lies to just about everybody and has no morals. All that he worries about is how he is perceived by others. He seems to love nothing more than for people to think that he is a success, whereas the truth is a million miles from this. This guy has struggled for a number of years now and I am aware of a number of unhappy startups and former employees.
    He is just clueless when it comes to running a business and makes outlandish claims about his success and achievements. The multiple offices that he claims to have are a total joke. Outsourcing development does not mean that you have an office in another country. Employing individuals who live in another country also does not constitute having an office there.
    I feel sorry for anybody that get caught up with Ian Lucey. He just can’t be trusted and his word means absolutely nothing. I would be very happy for some of the Startups to come forward and tell people of their experiences. This just needs to stop. Startups need to have the opportunity to work with people who know what they are doing and can genuinely help #LuceyFundless

  24. I worked for Ian Lucey and 100% this individual cannot be trusted. The distress that he has caused people is a scandal. My sympathy goes out to anybody still involved with him. I have seen situations where he just swans off on holidays leaving people unpaid. I have seen mention of Niall Kelly from TrytheTrend.com working for him. My advice would be to get away if you hope to make a success of that business. It’s credibility is at stake at the moment. There are enough victims at this point.

  25. Just some advice for any current employees stuck in the situation where you are owed wages by Ian Lucey. The workplace relations commission may not be the best way to go. There have been multiple cases involving Ian Lucey that were dragged out for months and all the while there was no public record of it.
    Advice that I have since received from a solicitor was to sue him for breach of contract. His actions also contravene the Payment of Wages Act and his behaviour is unlawful. This is also a much more public approach. Why should he get to remain anonymous when he clearly disregards employment law time and time again.

  26. What a bigshot this guy is! Between Lucey Fund and PixAlert he is pulling in a 6 figure salary. When you add up his cost of living from paying for his kids private school, personal property rental, holidays, golf eating out etc. the figures are quite shocking. Ian Lucey is spending vast sums of company money on his own personal situation, where at the same time employees go unpaid. How he sleeps at night is anyone’s guess. I wonder what revenue would make of all of this? It’s a disgrace and if he thinks that he is worth this kind of salary then he needs to take a long hard look in the mirror. Any startups thinking of going to Ian Lucey then please think again. This is how your money is spent.

  27. Angel Investment 101 with Ian Lucey:

    1) Find naive start-up
    2) Promise them the sun, moon and stars
    3) Tell them they need expert advice. Claim that you can deliver a product for the aforementioned start-up
    4) Obtain shares in the start-up on the basis of promises made above
    5) Invoice start-up for services that are never delivered
    6) Start-up pays Ian Lucey for achieving nothing

  28. It would be interesting to know who this guy knows in the Sunday Business Post and The Independent. Five minutes with this guy will tell you exactly what he’s all about. Yet he keeps getting exposure. Anyone associated with this guy is to be avoided.

  29. I have noticed mention of journalists on this site. I can tell you there have been journalists investigating Ian Lucey and some are investigating whether the Lucey Fund is a Ponzi scheme. I’m not sure about the strict definition of a Ponzi scheme but it seems pretty close to me. Clients pay money to start their projects and this money is then used in turn to pay off other debt, personal expenses or to pay towards another client’s development. So there is no “Fund” as such. If a client needs to be refunded for contract breaches it is other client’s money that pays for it. Also I’m not sure if Ian Lucey is aware but by breaking employee’s contracts they are no longer binded to things like confidentiality and can basically work for who they like and say what they like without recourse.

    1. You are 100% correct Niamh. By getting clients/former clients such as Nordic Adventours for example, to sign Non Disclosure Agreements that everything will remain a secret and out of the public. There is nothing stopping employees that havn’t been paid from speaking to these clients and how they were treated. As is my understanding non payment of staff wages means any non disclosure or confidentiality terms in contract are completely broken. They may think they are being smart not paying people and taking money from clients knowing that they haven’t the resources available to help them, but I get the feeling that this will all come to a very bad end.

  30. In my brief time at the “Lucey Fund” I witnessed a lot of deceitful behaviour and yes he did bully members of staff if he thought he could get away with it. I don’t know how he can walk around as if he has done nothing wrong. I wouldn’t be able to show my face in public. It’s amazing that he can’t see that he is putting a black mark on his family. Surely they deserve better.
    All of this becuase he wants to live a lavish lifestyle far beyond his means. The idea of the “Lucey Fund” is nothing more than a joke now. Staff have gone unpaid for very long periods of time and they were provided with substandard working conditions.

  31. For references on Dublin based investors speak to Frank Kelly, founder at zoomcouriersoftware.com, Moritz at Nordic Adventours, Callum Fergie (CEO of Remote Resources) or maybe businesswoman Bernie Kinsella (partner on the ill faithed ReturnPal project, MD at WheelsCouriers and CEO of WorldBox).

  32. I worked for a fake investor also for a brief time. I’m just posting this message so as the topic stays current and in case anybody else finds this page. They needs to be exposed. I was owed 3 months wages just before Christmas. I constantly emailed, politely asking when I should expect payment. there was always a reply with some sort of story, just enough to give me hope and therefore continue working on the projects I had been assigned to (for free).

    In the end, I was called on Christmas week and told the company wasn’t happy with my work and that I actually should be paying them to put it right. This was news to me and it was only the week previous that Ian had promised me payment. I still have copies of the emails over and back to prove it. I felt I had nowhere to turn as I threatened that I would be taken to court, for what, I don’t know.

    I found myself in the position of having to take up a part time job over Christmas just to earn some money for the season. Very demoralizing! Sob stories of any ex staff members mean nothing and I worked with some very decent folk during my time.

    I’d be happy to disclose my story on fake investors to any journalist.

  33. I have seen a lot of wrongdoing in my time. From employees not being paid, clients forking out a lot of hard-earned cash for little return while investors jet off on lavish vacations while everybody else is left to struggle. I have seen it all. I would welcome any journalists to post their contact details here. I will happily contact them. I have multiple stories to discuss. Forget the business pages, there is a lot of information here that is more front cover.

    1. Email addresses provided to this forum by genuine journalists will not be published here. They will be forwarded to contributors that are known to be genuine and have strong evidence to support their claims. There’s a list of over fifty people that say they were victims of investors that work from home. Many want to make their story known to prevent others from making the same mistake. This is a story that needs to be told.

  34. Anybody that believes they have been a victim of a crime should report it to the Gardai instead of posting on websites like this.

    CRIMINAL JUSTICE (THEFT AND FRAUD OFFENCES) ACT 2001
    Making gain or causing loss by deception. 6.—(1) A person who dishonestly, with the intention of making a gain for himself or herself or another, or of causing loss to another, by any deception induces another to do or refrain from doing an act is guilty of an offence. (2) A person guilty of an offence under this section is liable on conviction on indictment to a fine or imprisonment for a term not exceeding 5 years or both.

    Garda National Economic Crime Bureau, Harcourt Square, Harcourt Street
    Dublin 2 D02 DH42, Tel:+353 1 6663776, Fax: +353 1 6663798, Email: [email protected]

  35. Personally I would agree with a lot of what has been said about investors on this site. I did witness some extremely unprofessional behaviour and a sheer lack of respect for both employees and clients in general from investors. There is no excuse for not paying employees and for not delivering projects where a fee has been paid.

  36. This is what happens if investors don’t have any money.

    Employees go for months and months without pay.
    Multiple WRC cases are taken against the company.
    Numerous judgements made against the company for non-payment of money owed.
    Startups do not receive their projects due to non-payment of development team fees.
    A lot of people get owed money including employees, development teams, contractors, shareholders.

    You will never hear investors mentioning any of this. You may hear them complaining about people leaving bad reviews online but they will never mention the truth of the situation. The measure of a person is their ability to own up to what they have done wrong and try to rectify it. Nobody would have any issue if there was an honest effort made to put things right. Instead of trying to remove or hide a bad review why not respond to the person who has posted the bad review? The reason is quite simple. Some investors do not actually care about anyone but themselves.

  37. I worked for a pretend investor a number of years ago. I saw what went on but was won over by the smooth talking of this “Multi-Millionaire”. It wasnt until I was asked to do something that, at minimum, was immoral, that I really started to worry and look at what was going on around me. When I looked I found things that were DEFINITELY not right.

    The original concept by some companies is to tell startup companies that the cost of building a robust product will be around $100k as an example. If they pay $25k so they have “skin in the game” the comany will pay the remaining $75k in technology costs in exchange for shares in the company.

    What happens then is cheap developers are hired overseas to try get the product built for $10k-$15k (of the startups money) and use the remainder of the startups money to pay staff (if they got paid at all) to hide the fact that cheap outsourced developers are being used.

    Problems occur when company funds are spent on lifestyle. Then there is no money left to pay his overseas developers, staff or even a months rent. When this happens, its time to find more startups and use their deposits to cover the debts. Meanwhile the cheap developers he was paying were holding back code and not working so he kept jumping from development company to development company.

  38. There is no doubt that some wannabe investors can be smooth talkers and a good public speakers. This is the reason that people may be led to believe that they will get investment in their start-up company.

    A lot of such investors have little remorse when it comes to not paying staff. Leaving staff go months and months without pay is a very despicable act. Not a single thought for the bills they have. Any normal employer would stop people working if they knew they couldn’t pay them. But no, that doesn’t happen as it would affect business if people knew the truth.

    Paying staff just before a workplace relations commission hearing is due to sit is nothing to be commended for. Most employers across the country pay their staff on time week in,week out, no excuses. The sooner the better all of the startups affected by bad practices from so called investors stand together.

  39. Wow…I was recently out with some friends earlier and the topic of the who was the worst manager you ever worked for came up and I could only describe this one guy I encountered briefly in my career ( Mid 2000’s so long before you poor people ) Not that I give a damn, I thought I’d Google to see how he’s doing out of curiosity and came across this page. All I can say is that I’m not surprised as it looks like a lot of people may have been left out of pocket when dealing with would be investors because they did not do their due diligence.,me included although. I dusted myself off put it down to a learning experience. Karma’s a b*tch….

  40. All I can say is that I was personally caused me a lot of emotional distress due to actions that had a negative impact on my health. At the very least I think that a lot of people are being misled. It’s up to people to make up their own minds but it’s important to check references and do due diligence before handing over a deposit to companies with dubious trading records.

  41. That third picture above from the Phoenix brings back memories. The smaller building in pictures was where the “office” was. Internet connection was provided to staff by means of a long length of network cable being run from his house down the path and in through the kitchen of that small building. If somebody in the main house plugged out the router for any reason then nobody could work until one of the team (usually the sys admin) walked up to the house to plug it back in. He had the patience of a saint.
    Does this sound like a professional outfit? I’m sure clients were more than a little surprised to see something like this. But then I suppose that means you only have to pay for a personal plan as opposed to a business plan.
    Employees expected to work in a cold, bleak man cave with an awful internet connection. It just goes to show that there wasn’t a second thought for the welfare of employees or the conditions that they had to work in.

  42. For somebody who comes across this company, please take note of everything you are told and do your due diligence. For instance, if there is a mention of multiple offices worldwide – you know that this is totally untrue. There isn’t even one office in Dublin (check the contact details on the website) and there has never been an office in Poland, Ukraine, Milan etc.

    Nobody company should be allowed to pretend to be an investor when they do not have the funds to pay their own staff.

  43. I’m all in favour of a forum where we can hear both sides of an argument. I would welcome seeing some positive comments here. I would love to hear a defence to claims that he is not paying employees wages, not paying contractors and taking startups money when he doesn’t have the resources to carry out their projects. Multiple former employees and ex-clients will testify to this.

  44. Lucey Technologies Ltd was listed to be STRUCK OFF off this week as a result of a judgement registered against it by the Collector General. It appears revenue were seeking €139,649.00 + costs . Visit http://www.CRO.IE for further information.

    Three other companies operated by Ian Lucey have been struck off in 2019 (Visit http://www.CRO.IE for further information.) and one would hope the Office of Corporate Enforcement be aware of this.

    Hard-working founders must take care when dealing with would-be investors.

  45. I worked previously at Lucey Fund a number of years back and the conversations I have had since with any respectable member of the irish business community who has either encountered him or heard from others about him just laugh at him as if he was a comedy character in a spoof film.

    To anyone who has been negatively impacted by this character, you can take solace in the fact that he is viewed as a complete and utter joke, a person whose name is greeted with a knowing grin by anyone who is aware of him. The Dublin and Ireland business scene is small.

  46. From my experience a couple of years back and having kept in touch with staff afterwards, Anna Doody of Digital Schools sees to be fully aware of what has been reported in the Phoenix magazine. 10 years bouncing from house to house, it would be next to impossible not to. It could be very embarrassing for her and the stakeholders of http://www.Digitalschools.ie if further information comes to light in relation to claims made on their website.

  47. Interesting to see that Anna Doody resigned as the secretary of Lucey Technology recently. Maybe because she knows that there is about to be a very big judgment against this company very soon.

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