Stuart Baillie cut a controversial figure in Connemara five years ago when he was negotiating with the ESB to buy some of its fish farms.

At the time, the ESB said it was aware of an investigation into the Lees Group, a fish farm company with Irish and Scottish interests which collapsed in 1992 owing £35 million. The £4 million deal between his company Gaelic Seafoods and the ESB went ahead anyway, approved by the then Minister for Transport, Energy and Communications, Mr Michael Lowry.

At the time, Baillie had build up a core of fish farms in west and south Connemara, including purchases from the cigarette group, PJ Carroll in 1991, and seemed to have a Midas touch. He appeared the quintessential accountant, quiet and mild-mannered, a modest drinker, and shy in public. He had, however, a liking for fast cars and grew restless when business was quiet.

Behind the scenes, he also had a reputation for being a wheeler-dealer which was often at odds with the scientific rigour required to run a successful salmon farm.

Gaelic Seafoods, and its promise of providing employment in blackspot areas, drew valuable Udaras na Gaeltachta grants.

Following the ESB acquisitions, the business expanded its interests to include farm sites in Co Kerry and Co Cork and smolt units in Co Limerick, making it the largest operator in the State. Since the Scottish investigation began, Mr Baillie resigned his directorship of Gaelic Seafoods, leaving it in the hands of two English directors, Mr Richard Gabriel and Mr Dan Drew, but continued for a time after that as an employee.

Two years ago, the company sold its Scottish division to the Norwegian company, Stolt Seafarms, and has now reduced its Irish operations from 12 sites to two today, employing less than 50 people.