Courts / Wicklow / Report
Michael Lynn 'embarrassed' about 'clerical' delay in clearing €1.9m loan, trial hears
Summary
During a trial at Dublin Circuit Criminal Court, former solicitor Michael Lynn, aged 53, is accused of stealing about €27 million from seven financial institutions. The prosecution alleges that Lynn secured multiple mortgages on the same properties while banks were unaware of each other's financing. Evidence was presented that Lynn had a €1.9 million borrowing with a bank when he applied for a €4.9 million loan in 2007 to buy eight residential investment properties. A bank manager, Ciaran Farrell, emailed that the outstanding €1.9 million was cleared only a week later due to a "clerical" error, and that Lynn was "embarrassed and annoyed" by the delay. Documents relating to Lynn's overseas investment company, Kendar Global Properties, were shown, and a €3.7 million loan was drawn down, though a subsequent €5.5 million refinancing offer was not pursued. Michael Lynn pleaded not guilty.
Who, what, where, when and why
What: Report matter: Michael Lynn 'embarrassed' about 'clerical' delay in clearing €1.9m loan, trial hears. Charges or matters: 21 counts of theft in Dublin between October 23, 2006 and April 20, 2007. Procedural stage: trial
When:
- June 2007 Hearing Or Sentence
- April 2007 Hearing Or Sentence
- May 2007 Other
- October 23, 2006 Hearing Or Sentence
- April 20, 2007 Hearing Or Sentence
- 2007 to 2010 Other
- 2022-03-08 Publication
Case subjects
Accused
Charges: 21 counts of theft in Dublin between October 23, 2006 and April 20, 2007 (Alleged Or Contested)
Plea: Not guilty
Places mentioned
Topics
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