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Doherty suspended in Dail allegations row

SINN Fein TD Pearse Doherty was suspended from the Dail yesterday for a day after making allegations about the new head of the Department of Finance.

John Moran was appointed as secretary general this week to replace Kevin Cardiff, who has moved to the European Court of Auditors.

Mr Doherty told the Dail that Mr Moran had headed up a company in the US, which was censured by a watchdog agency.

"The secretary general of the Department of Finance was CEO of Zurich Capital Markets, which, during 2007, was censured by the US Securities and Exchange Commission and fined €16.8m for aiding and abetting four hedge funds in defrauding mutual funds," Mr Doherty told the Dail.

The Department of Finance said the events had occurred in the company's New York office before Mr Moran joined that office. It said Mr Moran had been tasked to resolve the issue and the censure was delivered after he had left the firm.

Irish Independent