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Dublin: 4°C Tuesday 7 December 2021

Nama lodges complaint to Sipo after BBC Spotlight revelations

This comes after a BBC Spotlight investigation which cast doubt over the motives of one of their advisers.

A clip from the BBC Spotlight programme, apparently showing Cushnahan accepting £40,000.
A clip from the BBC Spotlight programme, apparently showing Cushnahan accepting £40,000.

THE NATIONAL ASSET Management Agency (Nama) has lodged a complaint to the Standards in Public Office Commission in relation to their former adviser Frank Cushnahan.

A report has also been sent into the gardaí, it has been confirmed.

This comes after recent revelations in a BBC Spotlight investigation which seemed to show the former Nama adviser accepting £40,000 (about €47,250) from a property developer in a car park in 2012.

The controversy first arose when Independent TD Mick Wallace told the Dáil that a property portfolio was sold for €1.5 billion to the US private equity firm Cerberus, despite having been worth €4.5 billion.

It later emerged that Cushnahan had been working for a US company seeking to buy the state agency’s Northern Irish property portfolio during his time as a Nama adviser.

Cushnahan has denied any wrongdoing.

A report compiled by the Comptroller and Auditor General (C&AG) into the sale by Nama of its Northern Ireland properties is expected to be published this week.

Members of the Standards in Public Office Commission, an independent body which monitors the use of money by those in public office, will meet on the 9 October to discuss the report.

Read: ’Nothing illegal, nothing improper, no irregularities’: Noonan defends Nama over Project Eagle

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