David Walsh - Now setting up Black Planet VC - Convicted Fraudster

Now operating under the name Black Planet VC or Black Planet Ventures since he took down the Walsh Doherty Capital web site in October'11.

Since his release from prison, having served a four year sentence for stealing £680,000 from a UK firm, David walsh has been exposed as being up to his old tricks. Following outstanding journalism by Lyra McKee, CNN Money has picked up on her investigative journalism. David Walsh set up Walsh Doherty Capital, although no legal entity exists and has preyed on young start up companies both North and South on the island of Ireland who are looking to raise private equity. Invest Northern Ireland have been quick to disassociate themselves from Mr Walsh however having invited him to seminars in the past, the damage may already be done.

David Walsh does not have the resources to invest in any company and claims by him of multi million pound investments in companies are more than suspect. Mr Walsh's aim is to extort termination fees, which are substantial once he terminates the investment process for reasons which are not understood by the entrepreneur. With the threat of hell fire and damnation from his non existing legal services department, or by the promise of a "private" investment outside of his company, Mr Walsh has already successfully received fees from struggling start up companies.

Due diligence is a two way process so if you come up against his guy, ask for bank statements or a bank references. You won't receive either so be careful becausse you're about to be scammed. We live in a world where white collar crimes just doesn't get the attention or the sentences they deserves. If they did David Walsh wouldn't dream of reverting back to his old ways. Young start up companies need to be protected and the private equity market and those who operate in it, need to be regulated and licenced by Government. At least with a loan shark charging 4000% you get the initial funds, with people like David walsh you just get ripped off.

David walsh has had 4 years in prison to refine his scam. He looks the part, he talks the talk and will pretend to walk the walk. He has thought of every possible angle and question you may come up with and will answer without even blinking. He's good at what he does but he leaves a trail behind him, just like a slug.

Read the details and view more images http://gigaom.com/2012/01/03/belfast-investor-revealed-as-convicted-fraudster/

Be careful, you're swimming with sharks when entering the world of privae equity. The honest investors need to do more to protect their industry and their potential clients.