A former rates collector,[1] in the 1970s, Foley successfully ran The Central Ballroom in Ballybunion and the ballroom of The Brandon Hotel. He also had an interest in The Hillgrove Hotel in Dingle at one stage, and had extensive property holdings in Tralee.[2]
Following revelations that he had held an offshore account with Ansbacher Bank to avoid tax,[6] Denis Foley resigned from Fianna Fáil on 9 February 2000, becoming an Independent TD.[7] He had previously resigned from the Dáil Public Accounts Committee[8] (on which he had been involved in the questioning of an official of the Ansbacher bank in which he held an undeclared deposit)[9] and in May 2000, he became the first TD to receive a penalty for breaching the Ethics in Public Office Act 1995; he was suspended from the Dáil for 14 days.[10]