Businessman ordered to pay €20,000 over tax returns
A BUSINESSMAN who is facing a tax demand for more than €10m from the Criminal Assets Bureau has been ordered to pay €20,000 for failing to make tax returns over four years.
William Marks, of Sandymount, Blackrock, Dundalk, yesterday confirmed guilty pleas for not making income tax returns to the Revenue Commissioners for 2002 to 2005.
A revenue official attached to CAB told Dundalk Circuit Court that arising out of an investigation he was satisfied that no such returns were filed.
The Revenue officer, identified as 'Bureau officer 31', agreed with prosecution counsel Shane Costello that there is 'a divergence' between the assessment raised by Revenue and the returns filed by the accused.
Mr Marks, also known as Liam, was fined €5,000 on each of the four offences after the court heard that he had been a major fundraiser for Louth GAA and the Sri Lankan Tsunami charity. A character reference from ex-Irish Greyhound Board chairman Paschal Taggart was handed into court.
The Irish Independent can reveal that the charges arose from a complex investigation by the CAB, which was not referred to in court yesterday.
The investigation resulted in Mr Marks being issued with a revenue demand in excess of €10m that is still outstanding.
The inquiry into his finances was launched as a result of his business dealings with Phil Flynn, the former Bank of Scotland chairman. Mr Flynn, a trouble shooter for the Bertie Ahern-led government, is a former vice president of Sinn Fein.
CAB investigated after £2.4m (€3m) in used sterling notes were found by gardai at the Cork home of business associate Ted Cunningham in 2005.
The money was part of the £26.5m cash stolen by the IRA from the Northern Bank in Belfast in December 2004.
Mr Flynn was cleared of any wrongdoing and Cunningham (65) was jailed for 10 years. He subsequently appealed his case and a re-trial was ordered.
In February, Cunningham got a five-year suspended term after pleading guilty to laundering part of the raid's proceeds.
William Marks first came to the public's attention in the mid-80s when his firm, Benburb Meats, collapsed with IR£1.6m debts.
He was banned from being a company director for five years after a Temple Bar restaurant he ran was liquidated in 1995, leaving a IR£100,000 Revenue bill.
Mr Marks and his son Philip, who was a teenage boyfriend of pop star Andrea Corr, became partners with her brother Jim in a number of property investments which later collapsed leaving €1.4m in unpaid debts.