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Cushnahan 'scouted NAMA business in 2010'

The Dáil has heard major new claims that NAMA advisor Frank cushnahan tried to arrange the sale of t...
TodayFM
TodayFM

2:03 PM - 17 Nov 2016



Cushnahan 'scouted NAMA bu...

News

Cushnahan 'scouted NAMA business in 2010'

TodayFM
TodayFM

2:03 PM - 17 Nov 2016



The Dáil has heard major new claims that NAMA advisor Frank cushnahan tried to arrange the sale of the agency's loans just months after being appointed to the board.

The claims came from TD Mick Wallace who is urging the government to suspend NAMA's board, and any of its ongoing sales.

In the Dáil this lunchtime he read emails from an Asian businessman who shared correspondence through Wallace's NAMAleaks website.

In the emails Cushnahan advises that there would be great commercial value in some of NAMA's loan portfolios, with great returns available for investors willing to buy them.

He also offered to begin the process on behalf of interested parties, and discussed the possibility of success fees.

The emails were written in December 2010, just seven months after Cushnahan first attended a meeting of NAMA's Northern Ireland Advisory Committee.

That undermines NAMA's previous stance - namely, that it did not believe the alleged fixer's fee for Cushnahan's involvement in the Northern loans needed investigating, because Cushnahan had already left NAMA by that time. 

Our political correspondent Gavan Reilly reports.



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