Courts / Wicklow / Report

'He lived for the next big deal': Michael Lynn a 'greedy risk taker', prosecution tell jury

Date
2023-12-15

Stage
Trial

Primary locality
Redcross

County
Wicklow

Summary

In a Dublin Circuit Criminal Court hearing on 15 December 2023, former solicitor Michael Lynn, aged 55, faced 21 counts of theft for allegedly siphoning about €27 million from seven banks between October 2006 and April 2007. Prosecutor Karl Finnegan SC portrayed Lynn as a "greedy risk‑taker" who used multiple mortgages on the same properties, claiming the banks were unaware of other lenders. Lynn testified that he had "off‑the‑books" agreements and a secret deal with former Irish Nationwide chief Michael Fingleton to use Irish Nationwide funds for overseas property development. Finnegan argued that the alleged arrangements were "implausible" and that the banks had no knowledge of any conspiracy. Defence counsel Paul Comiskey O'Keeffe BL countered that Lynn's "profit‑share" agreement with Fingleton and the banks' awareness of his borrowing meant no deception had occurred, and that the prosecution's case relied on alleged "undertaking‑only" mortgages that the banks had never formally documented. Michael Lynn pleaded not guilty.

Who, what, where, when and why

What: Report matter: 'He lived for the next big deal': Michael Lynn a 'greedy risk taker', prosecution tell jury. Charges or matters: 21 counts of theft in Dublin between October 23, 2006 and April 20, 2007. Procedural stage: trial

When: