Business Irish

Saturday 10 December 2016

Nama scandal: four more staff suspected of leaking secrets

Gardai given the names of other Nama officials alleged to have disclosed confidential files

Published 11/09/2016 | 02:30

The Treasury Building on Grand Canal Street Lower where NAMA is based. Photo: Tom Burke
The Treasury Building on Grand Canal Street Lower where NAMA is based. Photo: Tom Burke

Former Nama official Enda Farrell, who received a two-year suspended sentence for disclosing confidential information relating to the agency, provided gardai with the names of four other Nama employees whom he claimed either assisted him, or were involved in leaking sensitive material themselves.

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The Sunday Independent has learned that Farrell made the potentially-explosive claims while being interviewed by detectives from the Garda Bureau of Fraud Investigation in relation to his leaking in 2012 of sensitive information relating to the financial affairs of a number of country's biggest developers, including Michael O'Flynn, the Cosgrave Development Group and Pat Doherty's Harcourt Group.

One of the more serious allegations levelled by Farrell was that - in July 2012, and after he had left his job at Nama - another Nama employee delivered confidential information relating to a Nama borrower's business plan to him outside Nama's Dublin headquarters.

It is understood Farrell gave detectives the name of a second Nama employee whom he claims told him that they had also sent out confidential financial information relating to borrowers' loans.

Farrell is also understood to have informed gardai of a third named Nama employee whom he claimed provided him with confidential information relating to the financial affairs of a major Nama borrower.

He is also believed to have provided gardai with the name of a fourth Nama employee whom he said sent him an email containing confidential information to his email address at Forum, the company where he was employed briefly following his exit from the State agency.

Separately, another former Nama official, Paul Pugh, was brought before Dublin District on June 23 last and charged with the unlawful disclosure in 2012 of confidential information relating to the Meath-based developer John McCabe's UK firm, McCabe Builders (UK) Ltd to a named individual at Connaught and Whitehall Capital UK Ltd.

The Sunday Independent understands that Pugh, who is due to stand trial on indictment was not one of those Nama employees identified by Enda Farrell in his interviews with gardai.

Asked for comment on the allegations made by Farrell, a spokesman for Nama said: "Any statements made by Mr Farrell to the gardai have been, or are, subject to Garda investigation and it would be inappropriate for NAMA to comment on any past or current Garda investigation."

Fianna Fail TD Marc Mac Sharry said: "It has been clear to me for sometime that the entire detail of much if not all of Nama's portfolio was available to interested parties within the market. It is also clear that the leaking of this information was for some reason kept from the connected parties and the public. This is extremely serious and is highly likely to have undermined the Irish people's potential to maximise the return from Nama disposals."

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