A Nama employee has breached protocol by buying an asset on the agency’s books, raising concerns that other private transactions may have taken place.
Enda Farrell, a former portfolio manager at Nama, bought a €410,000 (£324,618) house in Lucan, Co Dublin, earlier this year, according to the Irish Times. Farrell and his wife bought the property from a businessman who had purchased the five-bedroom home for €1.4m in 2004.
Fianna Fáil finance spokesman Michael McGrath has said that it is unacceptable for a Nama employee to buy property that has not been advertised on the open market, and called for an investigation by the Gardai.
sophia.furber@estatesgazette.com
