Courts / Wicklow / Report

Banker denies PTSB 'turned a blind eye' to €1.9m Lynn loan condition

Summary

During a trial at Dublin Circuit Criminal Court, former Permanent TSB commercial head Sean Alger denied that the bank had ignored a repayment condition on a €1.9 million loan to Michael Lynn. Alger said the bank had robust credit procedures and that any delay in repayment would normally raise a red flag, but he was not aware of any error. He rejected claims that the bank had turned a blind eye, stating there was no culture of ignoring conditions. Alger also noted that the borrower was primarily responsible for meeting loan conditions, with the bank's role being to ensure compliance. The trial, which continues next week, involves 21 counts of theft against Lynn, who has pleaded not guilty. The case is before Judge Martin Nolan and a jury.

Who, what, where, when and why

What: Report matter: Banker denies PTSB 'turned a blind eye' to €1.9m Lynn loan condition. Charges or matters: 21 counts of theft in Dublin between October 23, 2006 and April 20, 2007. Procedural stage: trial

When:

• April 2007 Hearing Or Sentence
• October 23, 2006 Hearing Or Sentence
• April 20, 2007 Hearing Or Sentence
• 2022-03-11 Publication

Case subjects

Places mentioned

Topics

Stage Trial Theft

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Read the original CNI report