Mick Wallace, NAMA and the £7M

[Rossfan]

When are the DUP and FF amalgamating?

[give her dixie]

Nama deal: debtors helped uncover £7m at centre of Northern Ireland loan sale scandal

Businessmen hired a leading international legal firm to investigate the sale of the 'Project Eagle' portfolio for a huge discount to US investment firm Cerberus last year.

In the process, they uncovered the £7m sum in an Isle of Man bank account, controlled by a Belfast solicitor.

It is the latest twist in the controversy which erupted last week, when Independent TD Mick Wallace claimed in the Dáil that the money had been earmarked for a Northern Ireland politician or party.

On Friday night, sources close to the private investigation confirmed that the dossier in the hands of the businessmen contains allegations that the money was in fact earmarked to pay a "small group" of Northern Ireland politicians from two political parties.

The sources revealed that investigations have identified the names of up to four politicians from two Northern Ireland parties who, it is claimed, stood to be paid from the Isle of Man account.

"The enquiries carried out so far have thrown up the names of up to four politicians from political parties who we believe were due to be paid from the £7m," said a source with knowledge of the investigation.

"There are a lot of people in the North very, very concerned about this matter and what is due to emerge in the coming weeks," said the source

http://www.belfasttelegraph.co.uk/news/northern-ireland/nama-deal-debtors-helped-uncover-7m-at-centre-of-northern-ireland-loan-sale-scandal-31369087.html

[give her dixie]

OFMDFM claimed key document sent to NAMA didn't exist

Peter Robinson and Martin McGuinness's department has refused to say why it apparently hid a key document which has emerged as part of the NAMA scandal.

It can now be revealed that last year the Office of the First Minister and Deputy First Minister (OFMDFM) claimed not to have a copy of the document – despite the fact that its potentially enormous significance to the largest property deal in the history of the island of Ireland means that it ought to have been retained in OFMDFM's filing system.

The revelation raises further questions as to why Stormont's most senior department appears to have attempted to hide the document.

Last May – four months after the MoU was sent from Stormont Castle – an individual lodged a Freedom of Information (FoI) request which said: "I...request in respect of 2014 copies of all correspondence, all internal briefings, all draft correspondence or briefings, all notes and in general all records held, created, sent or received by the Office of the First and Deputy First Minister concerning NAMA's Northern Ireland loan book."

But when OFMDFM eventually responded, it did not admit to the existence of the MoU. Instead, it released two fairly anodyne documents, which it claimed was all the relevant material held on NAMA in the relevant period

http://www.newsletter.co.uk/news/regional/ofmdfm-claimed-key-document-sent-to-nama-didn-t-exist-1-6846553

[EireOg1]

ok GHD , that's your 3rd or 4th  post on this thread . Do you have anything to add yourself ?

[The Subbie]

ok GHD , that's your 3rd or 4th  post on this thread . Do you have anything to add yourself ?

The thread police have arrived, everyone stay calm.

[give her dixie]

ok GHD , that's your 3rd or 4th  post on this thread . Do you have anything to add yourself ?

The thread police have arrived, everyone stay calm.

And only his 3rd post.......

[bcarrier]

The £7m is only the crumbs.

Cerberus bought 19 BILLION of property loans

http://www.irishtimes.com/business/financial-services/cerberus-used-irish-companies-to-buy-19bn-in-property-loans-1.2282519

[orangeman]

This solicitor is good : somebody is telling porkies -

The solicitor at the centre of the Nama loan sale controversy has said that no politician, nor any relative of any politician, was ever to receive any money from the deal.
Ian Coulter is the former managing partner of Tughans solicitors in Belfast and worked on behalf of the buyers in the £1bn deal.
He left Tughans in January.
The firm said he had transferred fees to an Isle of Man bank account of which he was the sole beneficiary.
In a statement, Mr Coulter said he had directed the transfer but it was for "a complex, commercially and legally-sensitive" reason.
He added that the reason had been explained to his former partners at Tughans and "will be explained to the appropriate authorities".
However, in a statement on Wednesday, Tughans said "it strongly disagrees with his version of events".

Julian O'Neill, BBC News NI Business Correspondent
Mr Coulter's headline is that no politician (or relative of any politician) was to have been paid over the Nama deal.
It is worth noting what is not said in this 800-word statement.
He does not explain why there was an Isle of Man account;
He does not say why the bulk of £7.5m was moved;
He does not reject the 'fixers' payment allegation;
He does not state the Isle of Man fees were his alone.
Does the opening line of his statement provide a clue?
"The concept of a Northern Ireland Nama deal was developed and significant work leading up to this deal was done by other business people in Northern Ireland, before any involvement of Cerberus (or any bidder)."

[orangeman]

Mick starting to turn up the heat on NAMA - usually when you're told to go to the Gardaí it's Trouble.

INDEPENDENT TD Mick Wallace was today told to go to Garda Síochána with new allegations he made concerning NAMA's operations.
Using Dáil privilege, Mr Wallace told the Dáil he knew a person in construction who wanted to exit NAMA and was asked to pay €15,000 "in a bag – in cash."
He said some weeks later the same person was asked to pay "the same again" – and when he did that he got his release from NAMA.
The Wexford TD also questioned separately when the NAMA chairman Frank Daly knew about a deposit in an Isle of Man bank account linked to the sale of the NAMA Northern Ireland properties. Mr Wallace said NAMA knew about this last January.
"Are you happy Taoiseach that all is still well?" Mr Wallace challenged the Taoiseach.

The Ceann Comhairle, Seán Barrett, warned the Independent TD that he could not use the Dáil as "a star chamber."  The Dáil chairman said Mr Wallace had produced no facts to substantiate his allegations.
"If you have any other questions please go to the Garda Siochana or the Public Accounts Committee," Mr Barrett said in a second warning to the Wexford TD.
The Taoiseach said the matters raised by Mr Wallace should be directed to the Gardai. Mr Kenny said NAMA was supervised by the Comptroller & Auditor General and the Public Accounts Committee.
"You should present your findings, you should present your facts – if facts they are - to them," Mr Kenny said.

[Shamrock Shore]

[muppet]

Mick starting to turn up the heat on NAMA - usually when you're told to go to the Gardaí it's Trouble.

INDEPENDENT TD Mick Wallace was today told to go to Garda Síochána with new allegations he made concerning NAMA's operations.
Using Dáil privilege, Mr Wallace told the Dáil he knew a person in construction who wanted to exit NAMA and was asked to pay €15,000 "in a bag – in cash."
He said some weeks later the same person was asked to pay "the same again" – and when he did that he got his release from NAMA.
The Wexford TD also questioned separately when the NAMA chairman Frank Daly knew about a deposit in an Isle of Man bank account linked to the sale of the NAMA Northern Ireland properties. Mr Wallace said NAMA knew about this last January.
"Are you happy Taoiseach that all is still well?" Mr Wallace challenged the Taoiseach.

The Ceann Comhairle, Seán Barrett, warned the Independent TD that he could not use the Dáil as "a star chamber."  The Dáil chairman said Mr Wallace had produced no facts to substantiate his allegations.
"If you have any other questions please go to the Garda Siochana or the Public Accounts Committee," Mr Barrett said in a second warning to the Wexford TD.
The Taoiseach said the matters raised by Mr Wallace should be directed to the Gardai. Mr Kenny said NAMA was supervised by the Comptroller & Auditor General and the Public Accounts Committee.
"You should present your findings, you should present your facts – if facts they are - to them," Mr Kenny said.

The Wallace circus is getting a bit tiring.

We, as a society, provide him with Dáil protection. He is using this protection to boost his profile, but fails to use it to show any proof of any of his claims.

Compare his performance with Catherine Murphy. She read the facts as she had them into the Dáil record and did imho a very good job despite enormous pressure. Wallace's performance always seems to be about Wallace.

[Rossfan]

Maybe Wallace should first pay us taxpayers the money he owes us 

[manfromdelmonte]

Maybe Wallace should first pay us taxpayers the money he owes us 

Yeah, cause Bertie and co just got a pension increase

I hope they are deducting it from his wages....

[mikehunt]

Purely for the entrtainment factor in seeing Sean Barrett go nuts, Mick Wallace should be encouraged to keep throwing out these accusations. While he stands on dodgy moral ground, I would give him the benefit of the doubt as he has spoken out about penalty points and the Cerberus deal among other things. NAMA's first act was to attack the messenger. While Mick Wallace didn't go to NAMA (for understandable reasons) NAMA didn't go to Mick either. They went to the Guards in an attempt to quiten the messenger rather than see if there was any foundation to the accusations. Attacking the messenger should always raise suspicion. People who look down their noses at Mick because of his appearance need only look at the likes of Ray Burke, Lawlorand Lowry in their nice suits.

[winghalfun]

Maybe a bit naive here but would it not have been better to sit on this information (if true) until the person(s) alleged drew from the well.

Without someone actually drawing any of it out how can anyone prove who it was destined for.