Courts / Tipperary / Report

Lowry was "cooking the books", prosecution tell trial

Summary

The trial of Independent TD Michael Lowry is ongoing at Dublin Circuit Criminal Court before Judge Martin Nolan. Mr Lowry, 61, of Glenreigh, Holycross, Co. Tipperary, pleaded not guilty to four charges of filing incorrect tax returns between August 2002 and August 2007 regarding a sum of Stg £248,624 received by his company, Garuda Ltd. He also pleaded not guilty to one charge of failing to keep proper accounts during the same period. Additionally, he pleaded not guilty on behalf of Garuda Ltd to three similar tax charges and one charge of failing to keep proper accounts. The State prosecutor, Remy Farrell SC, alleged that Mr Lowry and his company were "cooking the books" by keeping the sum off the books in 2002 and later attempting to account for it in 2006 to benefit from a more favourable tax rate. Counsel stated the State's case is that the money, which would have amounted to 88% of the company's certified gross profits for the year, was directed to a third party in the Isle of Man for Mr Lowry's own use. Evidence was heard from former Norpe Oy CEO Fred Ramberg, who testified via video-link regarding agency agreements and commission payments. The trial continues.

Who, what, where, when and why

What: Report matter: Lowry was "cooking the books", prosecution tell trial. Charges or matters: four charges of filing incorrect tax returns on dates between August 2002 and August 2007 in relation to a sum of Stg £248,624 received by his company, Garuda Ltd and one charge in relation to failing to keep a proper set of accounts on dates between 28 August 2002 and August 3, 2007. Procedural stage: trial

When:

• August 2002 Hearing Or Sentence
• August 2007 Hearing Or Sentence
• 28 August 2002 Other
• August 3, 2007 Other
• November 1, 1997 Other
• October 2001 Other
• August 28, 2002 Other
• August 1998 Other
• November 1997 Other
• 2018-06-11 Publication

Why: Counsel suggested to Mr Ramberg that the agreement which was in operation with Norpe was the one with Garuda because the others were "substitute agreements in place because there was a live issue with Revenue and there was a concern over which entity was going to engage with Norpe". CNI source report

Case subjects

Places mentioned

Topics

Stage Trial

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Read the original CNI report