Independents4Change TD Mick Wallace has claimed 20 people who have worked for the National Asset Management Agency (Nama) may have been engaged in “serious malpractice”.
Mr Wallace said he had submitted the names in a letter last week to Nama chairman Frank Daly and had asked how many had been reported to An Garda Síochána. The Wexford TD said he was still awaiting a reply.
During leaders’ questions in the Dáil on Thursday he also outlined the contents of a number of email exchanges between Frank Cushnahan, a former member of Nama’s Northern Ireland Advisory; and a businessman in Asia.
In one email, the businessman replied to Mr Cushnahan saying, according to Mr Wallace: “Thanks also for giving us information on acquisition success fees.”
Mr Wallace said he had travelled to Asia last weekend to meet the businessman who had contacted him and collected documents and emails.
The Independents4Change TD has raised a number of times in the Dáil, the controversial sale of Nama’s Northern Ireland property portfolio, Project Eagle.
C & AG report
He said the Public Accounts Committee (PAC) had been examining the Comptroller and Auditor General’s (C & AG) report into the sale for the past two months.
The 170-page report by the C & AG, is highly critical of the manner in which Nama disposed of 800 properties to US firm Cerberus for €1.6 billion in the deal known as Project Eagle.
He described as “shocking” the way in which Nama and the Department of Finance had treated the C & AG.
He said they had contradicted each other and had been “twisting and turning, ducking and diving in their efforts to undermine the C & AG and his excellent report”.
Mr Wallace again claimed the sale “stinks to high heaven” and called for the board and management of Nama to be suspended.
Minister for Public Expenditure and Reform Paschal Donohoe said the board and management would not be suspended.
He said the C & AG’s report was the “bedrock for the inquiry into Operation Eagle”.
Mr Donohoe several times during the exchanges called on Mr Wallace to go to the PAC with the evidence he had in relation to the case.
However, Mr Wallace has on a number of occasions offered to go before the PAC but the committee declined.
The Wexford TD claimed that “within a short time of Frank Cushnahan being appointed to Nama he was peddling assets belonging to Nama to foreign parts”.
He read out emails from Mr Cushnahan to the businessman in Asia in December 2010.
‘Substantial opportunities for major returns’
He quoted: “There are very substantial opportunities for major returns to be made for anyone who can access international and institutional funds to acquire blocks of development assets from either development or agency itself.
“I will of course initiate any documentation necessary to secure the best interest of all.”
The businessman who replied “thanks also for giving us information on acquisition success fees”, had subsequently emailed other parties.
The businessman wrote: “Had a good meeting with Frank (Cushnahan). I have a draft of the agreement that we should all sign along with Frank to ensure that we not only get a percentage of the money being invested but also a percentage of the special purpose vehicle and the profits to be made when the asset is sold.”
Replying to Mr Wallace, Mr Dohonoe insisted that “we have to have process in relation to all this”.
He said the C & AG’s report was made public and on the back of that the PAC was doing the work.
Mr Donohoe said the Government “has already made clear that in the aftermath of that happening, because we have confidence in the members of this Oireachtas, Government members and non-members to provide a valuable service in understanding and interrogating an issue that we understand to be of public concern”.
