Courts / Wicklow / Report
Bank found out others had interest in apartments solicitor had mortgaged for €1.38m, trial hears
Summary
In a trial held on 26 October 2023, retired National Irish Bank (NIB) business manager Noel McCole testified that the bank discovered other financial institutions had interests in four apartments that solicitor Michael Lynn (55) had purchased with a €1.38 million loan from NIB. McCole, who managed the Blanchardstown branch in the 1990s, explained that Lynn's solicitors had business accounts there, which were later closed. He described the loan application process, noting that Lynn initially proposed an 85 % loan‑to‑value ratio, which was rejected because NIB's guideline was 80 %. Lynn's assistant, Liz Doyle, emailed the bank in December 2006 seeking lending criteria, and an application was submitted in early 2007. NIB issued a facility letter on 13 February 2007, and Lynn signed it on 2 February. The bank drew down €1.38 million electronically on 16 March 2007, with a €5 000 charge deducted. Repayments were made between April and September 2007. Michael Lynn pleaded not guilty.
Who, what, where, when and why
What: Report matter: Bank found out others had interest in apartments solicitor had mortgaged for €1.38m, trial hears. Charges or matters: 21 counts of stealing property from various financial institutions between 2006 and 2007. Procedural stage: trial
When:
- December 2006 Other
- January 2007 Other
- February 13, 2007 Other
- February 2, 2007 Other
- March 2007 Other
- September 2006 Other
- March 16, 2007 Other
- September 2007 Other
- 2006 and 2007 Other
- 2023-10-26 Publication
Why: The witness said he later became a business banking manager and a mortgage application by Mr Lynn to purchase several properties was referred to him because of his "prior knowledge" of the customer. CNI source report
Case subjects
Accused
Charges: 21 counts of stealing property from various financial institutions between 2006 and 2007 (Alleged Or Contested)
Plea: Not guilty
Places mentioned
Topics
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