More than half of the directors in 1987 of CRH, one of the State's largest companies, held money in the Ansbacher accounts, the secretive banking scheme now being investigated by High Court inspectors.
An affidavit read to the High Court yesterday also suggests a substantial number of the directors - some of the leading figures in Irish business - were aware that an unlicensed bank was being operated from its offices to defraud the Revenue. The affidavit was not contested by Ansbacher (Cayman) Ltd, which was not represented in court. Neither Ansbacher nor CRH would comment when contacted last night. The Department of Enterprise, Trade and Employment affidavit, which was to read to the High Court yesterday, also shows that the activities of Ansbacher (Cayman) in Ireland may have been much greater than previously thought.
It says that some £50 million was deposited by Ansbacher in Irish banks - greater than the £38 million previously estimated. But it also says that Anscbacher (Cayman) may have controlled "a few hundred million pounds" on behalf of Irish residents, when funds in offshore trusts and companies are also counted. There were also details of an additional £200,000 sterling paid to the former Taoiseach, Mr Charles Haughey.
The affidavit, by Department official Mr Paul Appelby, formed the basis of an application by the Minister, Ms Harney, for the nomination of a court-appointed inspector to inquire into the activities in Ireland of Ansbacher (Cayman) Ltd.
It cited a a confidential report by a State-appointed authorised officer, Mr Gerard Ryan, on the operation of the secretive accounts managed by Ansbacher (Cayman) Ltd, which said eight of the 15 CRH board members in 1987 had placed deposits with Ansbacher. The accounts were controlled by the then CRH chairman, Mr Des Traynor.
The affidavit also said Mr Ryan's report "strongly suggests that a substantial number of the directors knew that an unlicensed bank [Ansbacher (Cayman) Ltd.] was operating from its registered office". The authorised officer's report "also suggests that some of the directors may have been aware that the company was assisting Irish individuals or companies in evading tax".
In the High Court, Mr Justice Johnson appointed three inspectors, including retired High Court president, Mr Justice Declan Costello, to investigate Ansbacher (Cayman) Ltd.
The appointment of the High Court inspectors greatly increases the likelihood that the 100 senior figures who held Ansbacher deposits will be named.
The affidavit revealed for the first time that the late Mr Traynor, who set up the deposits system while chairman of CRH and de facto chief executive of Guinness & Mahon Bank, and his Guinness & Mahon colleague, Mr Padraig Collery, "earned substantial fee income" from Ansbacher.
Other figures and companies cited in the affidavit include Lyndon Properties, a company of which Mr Clayton Love jnr was a director, and which was the beneficiary of a £2 million sterling loan secured by Ansbacher. Mr Love denied last night that he was a depositor.
A Dublin estate agent, Mr John Finnegan, was also cited as the beneficiary of a £1.88 million loan.
Carlisle Trust, owned by property developer Mr John Byrne, a long-time associate of Mr Haughey, and another company secured a loan for £17.5 million sterling, secured on cash deposits provided by Ansbacher.
Irish Intercontinental Bank provided the security on a £60,000 Bank of Ireland overdraft for Mr Conor Haughey, a son of the former Taoiseach, and his wife, Jacqueline, which was guaranteed by Ansbacher.
A US couple formerly resident in Ireland, Mr and Mrs Stephen Enoch, also benefited from loans.
