Michael Lynn jury fails to reach verdict on theft charges

This report is a localnews.ie summary based on public court reporting and records; sources are listed below.

The jury in the trial of former solicitor Michael Lynn failed to reach a verdict on 21 theft charges. He had pleaded not guilty to stealing almost €30 million from seven financial institutions in 2006 and 2007. The proceedings were reported on 1 June 2022.

Mr Lynn, 53, from Red Cross in Co Wicklow, was accused of obtaining multiple mortgages on the same properties without the institutions’ knowledge. The jury had to decide whether he deceived the institutions when taking out mortgages on Irish properties, intending to use the money for property development overseas.

In his defence, Mr Lynn said the institutions knew what he was doing and that he had arrangements with senior people in the banks who knew he was using the money for developments in places including Portugal and Hungary. He said bank documents did not reflect the reality of his relationship with them. The prosecution said his account was a fabricated pack of lies.

Judge Martin Nolan told the jury it had to decide whether the case involved a fraud by Mr Lynn or a charade by him and the banks. After more than 12 hours, the jurors told the judge they could not reach a verdict on which at least 10 agreed.

Mr Lynn was remanded on continuing bail. Prosecution lawyers asked for the case to be mentioned on 20 June to obtain instructions from the Director of Public Prosecutions.