Courts / Wicklow / Report

Senior officials deny BOI and Ulster Bank were 'negligent' in their lending

Summary

Senior officials from the Bank of Ireland and Ulster Bank denied that they were negligent in their lending to Michael Lynn, who is on trial for 21 counts of theft involving about €27 million taken from seven financial institutions between October 2006 and April 2007. Mr Lynn, aged 55, is accused of obtaining multiple mortgages on the same properties without the banks knowing that other institutions were also financing those properties. Jim Madden, a former Bank of Ireland senior business manager, testified that he acted as a mortgage broker for Bank of Ireland Mortgages and that the 2006 mortgage application was approved and drawn down on 13 December 2006. He said the loan would not have proceeded if the bank had known about Ulster Bank's financing of the same properties. The unnamed accused pleaded not guilty.

Who, what, where, when and why

What: Report matter: Senior officials deny BOI and Ulster Bank were 'negligent' in their lending. Charges or matters: 21 counts of theft in Dublin between October 23, 2006 and April 20, 2007. Procedural stage: trial

When:

• October 23, 2006 Hearing Or Sentence
• April 20, 2007 Hearing Or Sentence
• September 2006 Other
• December 13, 2006 Other
• October 2007 Other
• 2023-11-08 Publication

Case subjects

Places mentioned

Topics

Stage Trial Theft

Related court reports

• Disgraced ex-solicitor Michael Lynn's appeal to go to Supreme Court
• Disgraced former solicitor Michael Lynn fails to have prison sentence reduced
• Disgraced former solicitor Lynn could be released from prison next month if appeal succeeds, lawyers say
• Disgraced former solicitor Lynn gets legal aid for appeal after telling court 'he has no means'
• Disgraced solicitor Lynn brings High court challenge over legal costs refusal
• DPP investigating if millions in assets linked to disgraced solicitor Lynn are benefits of crime

Read the original CNI report