Wednesday 28 September 2016

Ministers want forensic expert to lead Nama probe

Published 17/09/2016 | 02:30

The fallout from the publication of the Comptroller and Auditor General (C&AG) report on the matter is set to continue into next week (Stock picture)
The fallout from the publication of the Comptroller and Auditor General (C&AG) report on the matter is set to continue into next week (Stock picture)

The statutory inquiry into Nama's sale of Project Eagle should be led by an expert in financial forensics, ministers believe.

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There is concern that even a highly experienced judge or retired member of the judiciary may not be equipped to deal with the "complexities" involved in the property transactions that form part of Project Eagle.

While handing the inquiry to a judge has not been ruled out, it is expected that the investigation team will include several forensic accountants.

"We can't on this occasion just say, 'hand it over to a judge and let him off'," one senior Government source said.

The fallout from the publication of the Comptroller and Auditor General (C&AG) report on the matter is set to continue into next week.

The report found that the taxpayer suffered a potential loss of £190m (€223.5m) as a result of the sale of the northern loan book to Cerberus.

Opposition leaders have been asked to submit their views by next Friday as to how a statutory inquiry should work.

Irish Independent

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