The two men arrested as part of the National Crime Agency’s investigation of allegations of fraud surrounding the sale of €1.6 billion of Nama loans in Northern Ireland have been released on bail, the NCA confirmed on Wednesday.
The men were arrested on Tuesday following searches carried out in Co Down in connection with the inquiry into the controversial sale of assets and property owned by the National Asset Management Agency (Nama) to US investment firm Cerberus.
An NCA spokesman said: "Officers from the National Crime Agency have today carried out two arrests and related searches in the Co Down area in connection with a fraud investigation.
“The operation is being assisted by the PSNI.
“As the investigation is continuing we are unable to comment further.”
The investigation was sparked following the discovery of a £7 million offshore transfer to an Isle of Man bank account, which was controlled by a former managing partner of Belfast-based law firm Tughans.
Tughans, which was involved in the Nama transaction after being subcontracted by Cerberus’s US lawyers Brown Rudnick, insisted it was not aware of the money movement.
A parliamentary committee at Stormont is carrying out a separate investigation into the Cerberus deal. All parties involved in the £1.2 billion transaction in 2014 have denied wrongdoing.
PA
