Former property developer, banker and publican Patrick Gallagher has died aged 54.
He is understood to have died in Dublin early yesterday morning having been unwell for a number of years.
He was a close friend of corrupt former taoiseach Charles Haughey and businessman Ben Dunne.
Mr Gallagher was among a number of people who epitomised a bold, new Irish business ethic in the 70s and 80s. His dealings made him one of the emerging "new aristocracy" of the time who enjoyed a jet-set lifestyle during years of high unemployment and high levels of social deprivation in Ireland.
Before the collapse of business in the early 80s - when he was just 31 - he owned Straffan House in Co Kildare and a number of racehorses.
Mr Gallagher's father, Matt, had amassed a wealthy building empire by the time Patrick inherited the business at the age of 22. He furthered the business entering into expensive land deals and diversifying into finance and banking.
He used investor funds to finance his developments, but when his property business got into financial difficulties his banks collapsed.
Among his more infamous land deals was the purchase of lands at Phoenix Park racecourse from the Arnott family and land at St Stephen's Green from the Slazenger family who owned the Powersourt estate in Enniskerry Co Wicklow.
Both of the planned developments did not reach fruition because of the collapse of Mr Gallagher's business and were later sold at a loss.
He was later jailed in Belfast over the collapse of his bank with the loss of £3.5m in investors funds. He also admitted providing false accounts and stealing money from his company.
He moved to South Africa after being released from jail, and consistently supported Mr Haughey during the years of the McCracken Tribunal which exposed some of the former taoiseach's corrupt financial dealings.
It was suggested at the tribunal that a sham land deal was created to facilitate the payment of IR£300,000 to Mr Haughey to help settle some the £1.1 million debt the former taoiseach had accrued at the AIB.
In a Sunday Independentinterview in 2000, Mr Gallagher offered to pay up to £3 million to help Mr Haughey settle his liabilities for unpaid tax that emerged as result of the scandal surrounding the discredited former taoiseach.
After Mr Haughey's fall from grace, Mr Gallagher said: "The way he has been treated is a disgrace - he deserves his dignity."He said he regarded Mr Haughey, who had been received vast sums from wealthy Irish business figures to fund his lavish lifestyle, as Anglo-Irish gentry.
Mr Gallagher also paid a figure of £1.5 million as a ransom for the release of former Dunnes Stores director Ben Dunne who was kidnapped by the IRA in 1981, although it was later returned.
After leaving Ireland for South Africa, Mr Gallagher later moved to Zimbabwe.