A Garda investigation has been opened into an allegation by the Independent TD Mick Wallace that a National Asset Management Agency official sought a corrupt payment of €30,000 from a construction company.
The Wexford TD, speaking under parliamentary privilege yesterday, alleged that when the construction company sought to exit Nama, its portfolio manager told it: “It will cost you €15,000 in cash and I want it in a bag.”
He said the construction firm paid the money and a few weeks later “he demanded the same again. They duly obliged and all was sorted.”
It was one of a total of 24 allegations and questions raised by Mr Wallace about the operations of Nama during two contributions to the Dáil yesterday, most focusing on the events surrounding Project Eagle, the sale of a 850-property portfolio in Northern Ireland for about £1.2 billion.
Soon after the latest allegations were made, Nama chief executive Brendan McDonagh wrote to Garda Commissioner Nóirín O’Sullivan and requested an inquiry into them, saying they “cast a shadow over all Nama officers”.
Wallace criticism
In a criticism of Mr Wallace, he said he had never contacted Nama with that information about the money in a bag. He also pointed out that Mr Wallace might be in breach of Section 19 of the Criminal Justice Act 2011 which obliges those with knowledge of criminal wrongdoing to bring it to the attention of Gardaí.
Ms O’Sullivan ordered the Garda Bureau of Fraud Investigation to begin an inquiry and appointed Det Chief Supt Patrick Lordan to lead it. In total the bureau has been involved in 19 Nama-related cases.
Four allegations
During Leaders’ Questions in the Dáil, Mr Wallace made four new allegations in relation to Nama. He alleged the agency had not effected enforcement on personal guarantees against prominent barristers, judges, accountants and bankers associated with property syndicates assembled by wealth management companies.
“Nama is responsible for some people being tossed out of their homes but it looks like some of the great and good of Irish society are blessed with Nama’s goodwill,” he said.
He also used Dáil privilege to question the role former secretary general of the Department of Finance John Moran had played in Nama’s handling of a particular portfolio, Coroin, which he claimed Mr Moran was “unnaturally interested in playing a significant role in”.
He also alleged that Nama was aware of the £7 million deposited in an offshore account by a Belfast solicitor, Ian Coulter, last January.
That seemed to contradict evidence given by Nama chairman Frank Daly to the Public Accounts Committee last week that he only became aware of the transaction two weeks ago.
Nama denials
In a series of statements responding to the allegations, Nama vehemently denied some of the claims made by Mr Wallace.
It dismissed the claim it did not enforce loans against prominent people saying it treated “all debtors equally and is legally obliged to do so”.
In a specific reference to Mr Moran, it said the allegation was not not true: “The Deputy also claimed Mr Moran played a role in the sale of the Coroin loans. This also is untrue. Mr Moran had no involvement in Nama’s decisions on this matter.”
