Courts / Wicklow / Report

'Absolutely no way' loan would be sanctioned for use other than in agreement, trial hears

Date
2023-11-21

Stage
Trial

Primary locality
Redcross

County
Wicklow

Summary

Michael Lynn, a former solicitor aged fifty-five from County Wicklow, continues his trial at Dublin Circuit Criminal Court on charges of theft amounting to approximately twenty-seven million euro from seven financial institutions between October 2006 and April 2007. He has pleaded not guilty to twenty-one counts of theft. The prosecution alleges that Mr Lynn obtained multiple mortgages on identical properties without the knowledge of the lending banks. A former Bank of Ireland official testified that loans sanctioned by him for Mr Lynn, including a Carrick-on-Shannon apartment development around 2003, could only be used for purposes specified in loan agreements. The witness stated his employment would have been at risk had he permitted unauthorised use of funds. Another Bank of Ireland witness denied allegations that he had agreed Mr Lynn could use borrowed money as he wished, and stated he had no recollection of meeting Mr Lynn. The trial before Judge Martin Nolan continues with jury present.

Who, what, where, when and why

What: Report matter: 'Absolutely no way' loan would be sanctioned for use other than in agreement, trial hears. Charges or matters: 21 counts of theft in Dublin between October 23, 2006 and April 20, 2007. Procedural stage: trial

When: