Friday 30 September 2016

Ex-Nama offical picks up new job

Published 15/05/2016 | 02:30

GUILTY PLEAS: Former Nama official Enda Farrell
GUILTY PLEAS: Former Nama official Enda Farrell

A former Nama official who received a two-year suspended sentence for disclosing confidential information relating to the agency has secured fresh employment and is believed to be in the process of looking to buy a new home in Dublin.

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Enda Farrell pleaded guilty before Dublin Circuit Criminal Court to eight counts of unlawfully disclosing information, in breach of the 2009 Nama Act. Owing to the presence of several mitigating factors, his sentence was suspended in full.

Judge Karen O'Connor noted on Thursday that the former Nama official had admitted his wrongdoing and had suffered a loss of personal and professional reputation.

She also accepted that his fall from grace had had a psychological impact on him.

The court heard how on dates between May 2012 and July 2012, the then portfolio manager sent copies of records detailing the valuations of hundreds of properties linked to developers including Paddy McKillen, Michael O'Flynn, the Cosgrave Development Group and Pat Doherty's Harcourt Group to a number of third parties.

Mr Farrell's Senior Counsel, Michael Bowman, said that once those offences emerged, his client lost his job. He had also compromised his prospects of securing future employment, Mr Bowman added.

The Sunday Independent understands that in recent months the 40-year-old father of three has secured work with a respected wealth-management firm.

While Mr Farrell is not engaged with the company as a full-time employee, it is understood that he has been retained for his expertise on a number of significant projects relating to the real-estate sector.

It is further understood that prior to being engaged by his new employers, the former Nama official informed them that he was in the course of being prosecuted for his transgressions at the State agency.

Having considered the matter, the company decided to offer him the opportunity to restart his career.

Although Mr Farrell is now based in Belgium, it is understood that he is actively seeking to buy a home in Dublin so that he can return to live here.

Sunday Independent

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