Lynn tells court he was greedy 'but not a thief'

Former solicitor Michael Lynn, who is accused of stealing almost €30m from financial institutions, has told a court he was greedy and too driven but was not a thief.

The former solicitor told Dublin Circuit Criminal Court he was on business in Portugal in September 2007, when he was told of a Law Society letter to the partners in his legal practice in Dublin. The Society had asked an inspector to examine the business, focusing on his borrowings, he said. He said he owed around €70 million in Ireland and it was simply impossible to repay all those loans at the same time.

He said he had meetings with key individuals in the banks - those who had consented to and agreed to lending him money and he said it was indicated to him that he needed to"take the hit" and start again. Mr Lynn said Stephen McCarthy from Ulster Bank told him that the bank was not going to agree that they had allowed him what Mr Lynn called"this flexible lending" and told him he was on his own. Mr Lynn said it became clear to him that he was going to be left holding the baby and he did not think he would ever be able to do business in Ireland again if he took on the banks.

He described meeting with Michael Fingleton, the then head of Irish Nationwide Building Society in relation to getting a mortgage for Glenlion House in Howth. The court has heard Mr Lynn was given a loan of just over €4 million by INBS to buy the property as a family home.

🤣🤣🤣🤣

It was just resting in his account.

Law Law Latest News, Law Law Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Lynn tells court he had permission from bankers to use mortgage money abroadFormer solicitor says practice was going on as far back as 2003 via IrishTimesBiz
Source: IrishTimesBiz - 🏆 6. / 77 Read more »

Lynn tells court he had permission from bankers to use mortgage money abroadFormer solicitor says practice was going on as far back as 2003 via IrishTimesBiz
Source: IrishTimesBiz - 🏆 6. / 77 Read more »

Karen Harrington tells court she did not murder SantinaKaren Harrington, who is on trial for the murder of a two-year-old girl in Cork in 2019, has told the Central Criminal Court that she did not murder the child
Source: rtenews - 🏆 1. / 99 Read more »

Woman accused of Santina Cawley murder tells court she did not inflict injuries on two-year-oldKaren Harrington is on trial at a Central Criminal Court sitting in the city charged with the murder of Santina Cawley. That poor little child,and what she was put through is horrifying. I pray that the perpetrators of this appalling crime are brought to justice,in the harshest possible way. There is no redemption for child abusers and murderers. RIP Santina.
Source: thejournal_ie - 🏆 32. / 50 Read more »