Investment funds worth about £7 million are understood to have been placed with ICC Bank as part of applications for passports by foreign nationals being assisted by the Roscommon-based architect Mr Brian O'Carroll.

However, no bank documentation is believed to exist which shows funds going from the bank to Fianna Fail or any other political party, apart from the £10,500 donated to Fianna Fail in 1993. That money came from a joint account in the name of Mr O'Carroll and a US investor, Mr Jerry Lindzon.

Mr Lindzon had funds in two accounts with ICC linked to his application. A third "joint account" held the £10,500 which Mr O'Carroll had transferred as an interest free loan to the party, after Mr Lindzon assured the bank Mr O'Carroll had the authority to do with the money "as he deems fit".

Mr O'Carroll was not available for comment last night. He has said he has acted for a number of parties in the past in relation to applications for passports, but did not give a precise number. He is a member of his local Fianna Fail cumainn, but not otherwise involved with the party.

It is understood the total amount invested through the ICC Bank as part of the passport for investment scheme was significantly greater than £7 million. The bank has a venture capital operation and was considered a suitable vehicle for the scheme by investors. A number of the applicants were introduced to the bank by major international accountancy firms.

Last month the Government produced a copy of a letter from Mr Lindzon to ICC Bank which seemed to be written in response to bank reservations about the transfer of £10,500 from the joint account to Fianna Fail.

Mr Lindzon said Mr O'Carroll "may dispose of these proceeds acting alone and he has my full authorisation to do so on my behalf. The amount is for £10,000 plus all accrued interest". The money was transferred shortly afterwards.

A passport was approved by the then Minister for Justice, Ms Maire Geoghegan Quinn, and was issued to Mr Lindzon's wife, Elena, in November 1994.