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Irish Nationwide wrote off €4m home loan to solicitor Michael Lynn, trial hears
Summary
In a theft trial, Irish Nationwide Building Society admitted it wrote off a €4 million mortgage taken by former solicitor Michael Lynn, aged 53, ten months after the loan was issued. Prosecutor Patrick McGrath presented the State's case that Lynn secured multiple mortgages on the same properties from different lenders, unaware of each other's applications. Killian McMahon, former internal auditor for INBS, testified that he had no personal dealings with Lynn but reviewed bank records. He described a loan application by Lynn and his wife Brid Murphy for a Howth home, amounting to €4 125 000, signed on 2 April 2007. McMahon noted a solicitor's undertaking dated 16 January 2007, signed by Fiona McAleenan, which assured the bank there were no other mortgages on the property. He also presented evidence of a cheque issued by Irish Nationwide for €4 125 000 on 4 April 2007 and the account statement showing the debit and subsequent bounced direct‑debit payments.
Who, what, where, when and why
What: Report matter: Irish Nationwide wrote off €4m home loan to solicitor Michael Lynn, trial hears. Procedural stage: trial
When:
- April 2, 2007 Other
- January 16, 2007 Other
- April 4, 2007 Hearing Or Sentence
- February 2008 Hearing Or Sentence
- 2003 and 2008 Other
- 2022-02-10 Publication
Why: Mr McMahon said a solicitor would make checks to make sure no other mortgages were on a property and that a financial institution would rely on them because they are an officer of the court and it is a solemn undertaking. CNI source report
Case subjects
Defendant
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