Michael Lynn jury sent home for second night

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Michael Lynn jury sent home for second night via IrishTimesBiz

Former solicitor Michael Lynn leaving at the Criminal Courts of Justice with his wife, Bríd Murphy. The jury is deliberating in the case where Mr Lynn is charged with stealing €27 million from financial institutions. Photograph: Sasko Lazarov/RollingNews.

The jury continued deliberations for a further 20 minutes before being sent home for the night. It will return to court at 2pm on WednesdayMr Lynn of Millbrook Court, Redcross, Co Wicklow, is on trial accused of the theft of about €27 million from seven financial institutions. He has pleaded not guilty to 21 counts of theft in Dublin between October 23rd, 2006, and April 20th, 2007.

The financial institutions involved are Bank of Ireland, National Irish Bank , Irish Life & Permanent, Ulster Bank, ACC Bank, Bank of Scotland Ireland and Irish Nationwide Building Society. Mr Lynn has told the trial that the banks were aware he had multiple loans on the same properties and that this was “custom and practice” among bankers in Celtic Tiger Ireland. He has said he had “secret deals” with a number of bankers, who gave him permission to use the loan money for his property developments abroad.

He told the court he and former Irish Nationwide chief executive Michael Fingleton were involved in a secret profit-share agreement in relation to a property development in Portugal.

 

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