Saturday 21 October 2017

Nama sale inevitably sparks some controversy

TD Mick Wallace alleged that millions of euro in an offshore bank account was linked to the sale and was earmarked to find its way to a politician or political party in Belfast
TD Mick Wallace alleged that millions of euro in an offshore bank account was linked to the sale and was earmarked to find its way to a politician or political party in Belfast
Donal O'Donovan

Donal O'Donovan

Nama doesn't make life easy for itself. The storm of controversy is still raging over the sale of its €1.6bn 'Project Eagle' Northern Ireland loan portfolio to US investors Cerberus - which until now was the agency's biggest deal.

That, remember, includes allegations made in the Dáil by TD Mick Wallace (inset right) that millions of euro in an offshore bank account was linked to the sale and was earmarked to find its way to a politician or political party in Belfast.

While Nama and Cerberus have denied any wrongdoing it is potentially an incredibly serious situation, with implications for taxpayers south of the border and the political system itself in the North.

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