A verdict in the High Court libel action by the Fianna Fail TD Ms Beverley Cooper-Flynn is not expected until Friday at the earliest. She alleges she was libelled in a series of RTE programmes.
Closing speeches by lawyers for the defendants - RTE, the journalist Charlie Bird and a retired farmer, Mr James Howard - began on the 25th day of the action yesterday and will continue today. The defendants deny Ms Cooper-Flynn was libelled in RTE broadcasts in 1998.
Closing the case for RTE and Mr Bird yesterday, Mr Kevin Feeney SC said their case was that, on the evidence and on the balance of probability, Ms Cooper-Flynn had advised and encouraged other persons to evade tax.
Mr Feeney said Ms CooperFlynn had been part of a small group - the financial advisory services division of National Irish Bank, which was set up in 1989 with a culture of "young, aggressive and high-fiving" persons who discussed how products were to be sold and marketed. There had been a system of referrals from local bank managers to the financial advisers, such as Ms Cooper-Flynn, who would go out to try to get people to invest.
One of the investors had a bogus bank account and had described how Ms Cooper-Flynn was present along with a person in a local branch of the bank when details were obtained from a computer of the bogus account, he said.
Ms Cooper-Flynn had claimed her role had been to give independent investment advice, that she never knew anything about "hot money" and did not advise people on tax evasion. She had claimed she never inquired where money had been invested.
There was one compelling reason why she would not want to know that piece of information and that reason was that both sides knew they were dealing with "hot money", he said.
During the hearing, Mr Feeney added, it was suggested the Revenue had been inquiring into 429 cases concerning the CMI personal portfolio and NIB. It appeared from counsel's own calculations that by July 2000 about 350 of the 429 investors had paid substantial sums to the Revenue as part of tax settlements.
Counsel then referred to a CMI internal memo of September 28th, 1994. He said Ms Cooper-Flynn did not recall receiving this from her boss, Mr Nigel Darcy, and she had also said she was not aware of the contents.
The memo stated a CMI policy was purchased by a person (since deceased) with money that had not been declared to the Revenue, and a request had been made to pay the proceedings out directly to the beneficiaries of the will which "may amount to an attempt to defraud the Irish Revenue".
Mr Feeney said her lack of memory of it was necessary to support the story she told about having no knowledge of tax evasion. When Mr Darcy gave evidence, he wasn't asked a single question by counsel for the TD, Mr Feeney added, because the story Ms Cooper-Flynn put forward regarding what happened in her department was inaccurate.
It was perfectly clear Ms Cooper-Flynn knew what was happening, particularly in re gard to the sale of CMI products with the use of "hot" money.
The hearing continues today with a closing address by Mr Paul O'Higgins SC, for Mr Howard. Following closing speeches on behalf of Ms Cooper-Flynn Mr Justice Morris will charge the jury.