Michael Lynn theft trial heard closing speeches

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

The trial of former solicitor Michael Lynn was hearing closing speeches at the circuit criminal court. Lynn denied stealing almost €30 million from seven financial institutions.

The proceedings were reported on 26 May 2022. The trial had begun in early February, the report said.

Prosecuting counsel Patrick McGrath accused Lynn of telling the jury a “fabricated pack of lies” and said a key issue was the credibility of his account. McGrath said the jury would be told that Lynn was entitled to an acquittal if it thought his account might reasonably be true.

Lynn had claimed that bankers knew he had multiple mortgages on the same properties and had allowed him to use the money for property developments abroad. McGrath disputed that account, saying the banks had not colluded in secret deals. He alleged that Lynn had exploited the system of solicitors’ undertakings and directed an employee to forge statements of affairs for the banks.

Defence counsel Paul Comiskey O’Keeffe asked jurors to consider banking practices in 2006 and 2007. He argued that the evidence had been affected by inadequate documentation from the institutions and that documents did not reflect the entirety of Lynn’s relationship with them. He also said the jury had heard evidence of a €24 million loan available to Lynn in Portugal, albeit very late in the day.

The report said the defence speech would continue the following morning. Judge Martin Nolan would then address the jury before it began considering its verdicts.