Nama is referring a case involving a debtor who tried to hide assets from the agency to the Gardai.
Aideen O’Reilly, Nama’s head of legal affairs, has confirmed that the Gardai are working with the agency on a case against one debtor, in what could be a test case for Nama’s handling of those who hide assets.
O’Reilly said: “A summary of the evidence has gone to the Garda Bureau of Fraud Investigation and we will be meeting with them shortly to assess the evidential weight of what we have been able to give them.
“We intend processing that to a conclusion and there will ultimately be a view from the Gardai, and probably the DPP, as to whether charges could be preferred.
“It will be a test case to see what level of evidence we can provide the gardai with and take their view on the strength or otherwise of it.”
Speaking before the public accounts committee, Nama chief executive Brendan McDonagh said that developers had attempted to conceal €160m (£128.2m) from the agency. The case could prove a turning point in how Nama handles cases involving debtors that have failed to disclose all of their assets.
Nama requires debtors to provide full disclosures of assets and liabilities, and attempting to hide either is an offence.
sophia.furber@estatesgazette.com
