We use Google Analytics to see which pages are read and how the site is used, so we know what to improve. This only runs if you accept. See our privacy notice for details.

Seanad
‹ Order of Business

NAMA corruption investigation allegations

Summary

Senator O’Brien alleges serious corruption and improper information leaks within NAMA and asks whether the Garda Commissioner has been asked to investigate; the Chair and other Senators caution that allegations should be reported to the Gardaí and handled independently.

Yes, he may not want to hear what I have to say but I would like to attend. I will certainly make myself available.

On an even more important matter, I am in receipt of information which, in my view, will rock the National Assets Management Agency, NAMA, to its very core. Is the Leader aware that the Garda Commissioner has been requested to carry out an investigation into corruption and impropriety in NAMA?

Comment on this
Paddy Burke An Cathaoirleach Fine Gael

That is very strong language.

Comment on this

It is very strong because the information put into my possession by certain individuals-----

Comment on this

Has the Senator forwarded it to the Garda?

Comment on this

-----is extremely serious. NAMA is the largest property management company in the world and has responsibility for €74 billion in loans. Allegations have been made in the past couple of years with regard to how some of NAMA's current and former staff have used information they obtained during the course of their work. It has been alleged that those to whom I refer have leaked or given this information to third parties - vulture funds and other investors-----

Comment on this
Paddy Burke An Cathaoirleach Fine Gael

Does the Senator have a question for the Leader?

Comment on this

This is important because I want to place the matter in context.

Comment on this

Senator Darragh O'Brien is right.

Comment on this

Information is being leaked from NAMA and is being given to vulture funds and other investors in order to confer financial advantage on them. This will ensure that these entities will profit off the backs of taxpayers and that viable businesses will be shut down as a result. I need to know today whether the Garda Commissioner has been requested to carry out a detailed investigation into corruption and impropriety in NAMA. It is crucial that the Taoiseach, the Minister for Finance or the Minister for Justice and Equality come before the House today to make a statement on this matter, which is so serious that it could undermine NAMA and the property and financial services sectors. I wish, therefore, to formally propose an amendment to the Order of Business to the effect that the Taoiseach, the Minister for Finance or the Minister for Justice and Equality come before the House and confirm whether the Garda Commissioner has been requested to carry out an investigation into corruption and impropriety in the National Asset Management Agency, which manages €74 billion worth of loans on behalf of the taxpayer.

So many different items of information have been referred to in the House in the past two years that it seems that the staff within NAMA who are doing their level best and working on behalf of the State are being tarred with the same brush as certain individuals who are still with the agency or who recently left its employ and who are giving or have given information to third parties in order that they might make serious profits. This needs to stop and, as a result, the matter must be dealt with today in the Seanad.

Comment on this

Senator Darragh O'Brien has raised serious matters of grave concern. The general point he makes is that if anyone has information about corruption or criminal matters that have arisen, then clearly he or she has an obligation to report this to the Garda. That overrides any imperative for discussing such matters in this or any other forum. The other issue is that the Garda Commissioner and the force are independent. I would, therefore, be concerned by any suggestion that there might be some sort of political dictation to the Garda Síochána in the context of what it may or may not investigate. We must be careful-----

Comment on this

I agree with the Senator. All I am seeking is confirmation as to whether the Garda Commissioner has been requested to carry out an investigation.

Comment on this

We need to be careful about what we are saying,-----

Comment on this