Michael Lynn’s theft trial hears Howth mortgage evidence

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

Former solicitor Michael Lynn’s theft trial was heard at Dublin Circuit Criminal Court. He has pleaded not guilty to 21 counts of theft from seven financial institutions in 2006 and 2007, involving alleged multiple mortgages on the same properties. The proceedings were reported on 11 February 2022.

Former Irish Nationwide branch manager Mark Mulcahy said he understood the mortgage application for Glenlion House in Howth was to be the sole mortgage on the property. He said he would not have recommended the loan if he had thought there was another mortgage.

The prosecution alleges Lynn took out three mortgages on Glenlion House, totalling more than €11 million. Evidence also covered other mortgage applications and Bank of Scotland Ireland’s requirement that it hold the first and only legal charge on the house.

A building society memo cited assets valued at more than €45 million and recommended the mortgage application. The figures and recommendation were reported as trial evidence.

The report said the trial would continue on Monday.