BRITAIN'S National Crime Agency (NCA) will lead the investigation into the controversial sale of the €1.5billion North of Ireland property portfolio of Ireland's National Asset Management Agency (NAMA).
The NCA — the British equivalent of the FBI — will focus on claims made in the Dáil by Independent TD Mick Wallace that as part of the deal, £7million was deposited in an Isle of Man bank account, “reportedly earmarked for a Northern Ireland politician or political party”.
The portfolio was sold to private investment firm Cerberus for over €1.5billion.
This is the NCA's first major investigation in the North since it began operating there in May.
NCA deputy director of operations Graham Gardner said: "The NCA has considered a request from Police Service of Northern Ireland and has agreed to lead an investigation, calling on support as necessary from PSNI officers.
"We will not be providing a running commentary on our progress but will provide updates as and when appropriate."
Earlier, Dáil Éireann’s Public Accounts Committee (PAC) was told that former NAMA adviser Frank Cushnahan had been in line for a £5million payment if the sale to the original US bidders had gone ahead.
The PAC heard claims from NAMA chairman Frank Daly that investment management firm PIMCO pulled out of the tender bidding process after discovering that Mr Cushnahan was to share in a three-way split of £15million, along with a US law firm and Ian Coulter, who was then a managing partner of Belfast law firm, Tughans.
Mr Coulter was in control of the Isle of Man bank account. Tughans have said that Mr Coulter diverted the money there without their knowledge and once the funds were retrieved, he left the practice and the matter was reported to the Law Society.
Meanwhile, First Minister Peter Robinson’s son has become embroiled in the affair.
The Irish News is reporting that Gareth Robinson’s public relations firm Verbatim Communications previously worked for Tughans.
In a statement, Verbatim Communications confirmed that "on one occasion, three years ago, Verbatim Communications Ltd was engaged by Tughans to assist with a very successful event relating to third level education".
However the stated added that none of Verbatim's "employees or representatives facilitated or were in any way involved in the sale of NAMA assets to Cerberus".
"Neither the company nor anyone representing the company benefited from the Cerberus/NAMA transaction nor did they ever expect to."
