Jury selection has begun in a Belfast court in advance of the trial of two prominent businessman accused of fraud over a £1 billion (€1.2 billion) loan deal.
Frank Cushnahan (83), of Alexandra Gate in Holywood, Co Down, and Ian Coulter (54), of Templepatrick Road in Ballyclare, Co Antrim, deny all charges against them.
A day was set aside to pick the jurors on Monday and the trial is expected to begin tomorrow when prosecutors will deliver their opening arguments.
The case is due to last up to eight weeks.
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The charges against the men relate to the sale of a loan book held by the National Asset Management Agency (Nama), which was set up by the Irish Government to deal with toxic property loans after the banking crisis in 2008.
Nama’s Northern Ireland loan book was sold to a US investment fund in 2014.
Mr Cushnahan, a business consultant and former member of Nama’s Northern Ireland advisory committee, is charged with fraud for allegedly failing to disclose information to Nama between April 1st and November 7th, 2013.
Mr Coulter, a solicitor, is alleged to have made a false representation to a law firm on or around September 11th, 2014. He is also charged with making an article in connection with a fraud, namely a £9 million invoice, and two counts of concealing or transferring criminal property on various dates in 2014.
Both men are accused of making a false representation to Nama and a law firm in April 2014.
Mr Cushnahan applied for reporting restrictions to be imposed during the trial but his bid was turned down three months ago by a judge who said there was “substantial public interest” in the trial.
His co-accused did not seek reporting restrictions.
In applying for the restrictions, Mr Cushnahan sought an order from the court pursuant to section 4 (2) of the Contempt of Court Act 1981, which states that reporting on certain proceedings may be postponed if there is “a substantial risk of prejudice to the administration of justice in those proceedings”.
In dismissing the application, Mr Justice Ian Huddleston of the Crown Court of Northern Ireland said there was “no substantial risk to the applicant on the facts”.
“The public interest in fair and accurate reporting of criminal trials generally, and the promotion of public confidence in the administration of justice and the rule of law, is something which very much tends to the dismissal of the application,” he added.
