How he tried to get his money back: Irlasto's Russian partners ran the Irish staff out of Tressals salon in Moscow in April 1996 and took over the business.
In May 1996, Mr Fahey wrote to Irlasto chief executive Kieran Walshe about trying to restore the situation.
"The directors of Tressals are prepared to make rental payments of $5,000 per month for the next three months provided none of the cash has been removed from the safe in an unauthorised way," Mr Fahey wrote.
He raised the possibility of the Tressals directors purchasing the Tressals premises.
That same month Mr Walshe faxed Russian partner Dmitri Kishiev in relation to the rent. "$5,000 by Tressals itself to be paid directly by Frank Fahey" was to be part of the arrangement, according to the fax.
On May 31st, Mr Kishiev faxed Mr Fahey.
"I fully understand that you as investor wish to have your money back and the same applies to me and other investors," Mr Kishiev wrote.
He said his estimate was that the business was bringing in $60,000 a month, making for a profit of $20,000 before rent. "Therefore I feel it is quite possible to pay the rent and to repay the investors."
Mr Fahey responded to say the Tressals directors were prepared to discuss the matter.
In June 1996, Frank Fahey drafted a letter to Yuri Luzhkov, mayor of Moscow.
Writing as a senator, he said he was acting "on behalf of a group of Irish investors" who entered into business in Moscow with Russian partners.
Recently the Irish staff had "been threatened and forcibly removed from the management of the business . . . I would be grateful if you would put me in contact with a senior person in the Moscow police as I now wish to have a full investigation into the business practice of this Russian company."
He said he was arranging for a senior official in the Irish embassy in Moscow to meet with the police officer the mayor would nominate.
"I am also asking the Russian ambassador to Ireland to take up the matter with the authorities in Moscow."
Irlasto chief executive Kieran Walshe met with Mr Fahey in Limerick and discussed the situation.
In a letter written in June 1996, Mr Walshe told Mr Fahey he would, as requested, present proposals to Russian partner Dmitri Kishiev "to return your fixed asset investment of $300,000 and your working capital investment of $52,000 through Irlasto.
"I met Dmitri Kishiev in Moscow on the week commencing the 10th June 1996 and he confirmed that subject to verifying the extent of your investment he would be prepared to repay the amounts due to yourself and your fellow investors on a phased payment basis over 2/3 years."
In early July 1996, Mr Fahey wrote to Mr Walshe saying the investors in Tressals welcomed commitments that had been made by Irlasto.
He said the directors wanted a written agreement with Irlasto that the investors would be repaid over the coming three years.
Irlasto is now in liquidation.
Tressals is still in business but who owns it currently is not known.
