The accountancy firm BDO Simpson Xavier has said it never acted in any capacity for Louisville Ltd, a company being investigated by the Criminal Assets Bureau for laundering drugs money. In a statement, BDO confirmed yesterday it had suspended one of its partners, Mr Michael O'Leary, for "possible breach of partnership regulations".
Mr O'Leary was named in the High Court on Thursday as one of the directors of Louisville. Mr Michael Keating, the former Fine Gael minister and lord mayor of Dublin, was named as another director. Both men deny they were ever directors of the company.
BDO said that Mr O'Leary was not an accountant, as stated in the High Court, but a "technical specialist" in the firm's customs and excise department. The statement said that BDO incorporated Louisville as an off-the-shelf company in 1995. It claims the CAB confirmed that BDO "is not, and never was" part of its investigation.
Two BDO employees appear as nominee directors of Louisville, but the company said this is "routine practice". The CAB had confirmed that the nominees have no involvement in Louisville, the statement added.
BDO declined to comment further, citing legal reasons.