Monday 20 May 2019

TD Mick Wallace raises fresh allegations around controversial €1.4bn Project Eagle sale

Mick Wallace. Photo: Tom Burke
Mick Wallace. Photo: Tom Burke
Philip Ryan

Philip Ryan

Independent TD Mick Wallace has raised fresh allegations around the controversial €1.4bn sale of Nama’s Northern Ireland loan book.

Mr Wallace said he was contacted by a businessman based in Asia through his Nama Leaks website regarding the sale of the Project Eagle portfolio.

The former property developer said he travelled to Asia where he was provided with emails and documents by the businessman which showed former Nama adviser Frank Cushnahan was “peddling”  assets to international investors soon after he was appointed in 2010.

Speaking during Leaders Questions in the Dail, Mr Wallace read from the emails which included reference to “success fees” or finder’s fees as they are also known.

Mr Cushnahan has been arrested and questioned by the North’s National Crime Agency (NCA) over his role in the sale of the Northern Ireland portfolio.

Mr Wallace called for the entire board of Nama to be suspended pending the outcome of a Commission of Investigation into the Project Eagle sale which Taoiseach Enda Kenny said he would  establish.

“Nama from start to finish stinks to high heaven,” he said.

Public Expenditure and Reform Minister Paschal Donohoe, who was taking Leaders Questions on behalf of the Taoiseach, said he would not suspend the Nama board.

The Project Eagle sale is currently the subject of a number of investigations in Ireland, Northern Ireland and the US.

The Public Accounts Committee is today questioning former Nama board members and Officials from Cerebus - the US firm which bought the Project Eagle loan book.

Online Editors

Today's news headlines, directly to your inbox every morning.

Also in this section