Northern Irish businessman Frank Cushnahan has been detained by the UK’s National Crime Squad as part of the investigation into Nama’s sale of Project Eagle.
Cushnahan, who had been an adviser to Ireland’s National Asset Management Agency, was detained alongside another unnamed individual, according to Press Association reports in the Irish News.
In a statement the NCA said: “The operation is being assisted by the Police Service of Northern Ireland. As the investigation is continuing we are unable to comment further.”
The arrests followed an investigation sparked by the discovery of a £7m transfer to an Isle of Man bank around the time of the sale of Project Eagle to US private equity firm Cerberus.
Cerberus has denied any involvement in the transaction.
The claim that a transfer had been made, potentially as a “fixers fee”, was originally made by independent TD Mick Wallace in the Irish parliament the Dail.
He identified a transaction in which the money had been transferred to a former partner of law firm Tughans and claimed it was destined for a leading Northern Irish politician.
The Irish taoiseach Enda Kenny rejected calls for an inquiry south of the border on Tuesday, saying no allegations of wrongdoing have been made against Nama.
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