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The British man was arrested in Dublin by gardai at the weekend after he travelled to Ireland by ferry to speak to the teen’s mother about his relationship with her daughter.
The wealthy businessman appeared before Judge Fiona Lydon at Dublin District Court charged with four counts of engaging in a sexual act with a child under the age of 17 years on dates in 2016 and this year.
He said a complaint was made by the teen’s mother in January that her daughter, who is in her mid-teens, and the man were in a sexual relationship.
It was alleged he was aware of the girl’s age before engaging in sexual activity with her, the Garda said.
The Garda believed he would evade trial if granted bail and he had a considerable amount of resources through his windfall, the court was told.
She was aged 15 at the time and had told the accused, the court heard.
Garda Faulkner alleged that this did not discourage the man’s advancements and he came back by ferry every four to six weeks.