Friday 24 November 2017

What the informants claimed

AN original document provided to the IBRC by the two informants was exhibited in court yesterday.

The informants claimed the Quinns had decided by 2012 to put assets beyond reach and enlisted a number of agents to help.

Agent #1 The bank employee

* The bank was told by the informants that the Quinns instructed an Investec bank employee – who was introduced by friends – to purchase €300m in gold, and that this transaction was conducted in Dubai/Fiji.

* The informants also claimed that the Investec employee was further commissioned to cause €200m to be transferred from HSBC bank in Dubai to the Virgin Islands.

* However, Investec identified no transactions of the nature alleged and the employee had no connection with the Quinn family.

Agent #2 The travelling fixer

* The informants claimed the Quinns recruited a man of Indian/Pakistani origin to act as their "travelling fixer".

* The informants said that the fixer travels first class, stays in 5-star hotels and was given access to large sums of cash.

* His alleged duties included paying officials in different countries to "do what was necessary to benefit the Quinns' programme".

Agent #3 The Cash Dispenser

* The third alleged agent is said by the informants to be a long-term personal and business friend from Cavan.

* The IBRC says his role was to act as the Quinns' "secret cash dispenser" of hundreds of thousands of euro to "oil the wheels of their (the Quinns') 'assets beyond reach' programme, thereby leaving the principals with a clean hands' situation".

Irish Independent

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