Mr Ray Burke has admitted misleading the Dail when he was minister for foreign affairs.
He told opposition deputies in September 1997 he was not "flush" with money, when there was £127,000 in one of his bank accounts. He also told the Dail he received all political donations during elections and not between them when he had received money in 1994, not an election year.
He added: "In doing that I may have misled the House in relation to the accuracy of what I said there."
Mr Burke said he was going through major personal and family trauma at the time. "I give that as an explanation not an excuse," he said.
He also denied that the sums of money and the regular basis on which he raised them were unusual.
He was not saying the sums were political donations to hide the fact that they were large sums from businessmen.
Other former political colleagues raised money on a regular basis, he added. "I can give you no greater example than the Taoiseach himself."
The Taoiseach's annual dinner raised £30,000-£50,000 in one night, Mr Burke added.
He said communications between his financial advisers and the Revenue Commissioners had not been finalised; when they were a decision on the money would be made.