Sunday 11 December 2016

Allegations may prove even more incendiary than first thought

Paul Williams

Published 11/07/2015 | 02:30

Mick Wallace
Mick Wallace

When Independent TD Mick Wallace dropped his bombshell allegations in the Dáil last week about potentially dodgy deals surrounding the sale of Nama's Northern Ireland portfolio, it sparked a flurry of enquiries.

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At the centre of the controversy is the process of how valuable assets which belong to the hard-pressed taxpayers - the people paying through the nose for the recklessness of our bankers - are being sold off.

Two TDs on the Dáil Public Accounts Committee said on Thursday that the Northern Nama firesale process "stinks" while the PSNI has launched a criminal investigation.

And the latest revelations by the Irish Independent today, that a small group of cross party politicians are suspected to have been in line for payment, places this nascent scandal on a different plane.

The sources who spoke to this newspaper have compiled some particularly explosive information which is likely to become public in the coming weeks.

If certain politicians in the North were up to something illegal in relation to the sale of the assets of the taxpayers in the Republic of Ireland, it will spark a massive ripple effect.

It is clear that this particular controversy is not going to go away.

Since its inception Nama has been no stranger to controversy and allegations against it - but by and large, it has stood its ground.

The money found in an Isle of Man bank account had nothing to do with Nama. But its existence begs questions about the sale of the Irish taxpayer's assets, and whether any part of it may be open to abuse and corruption.

The dossier now in the hands of business people who feel aggrieved by Nama's treatment of them may prove to be even more incendiary than was first thought.

Irish Independent

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