Michael Lynn's former banker has told his multi-million euro theft trial he was not aware that INBS boss Michael Fingleton was Mr Lynn's “private banker”.
Mark Mulcahy, the former Irish Nationwide Building Society (INBS) Dún Laoghaire branch manager, told Dublin Circuit Criminal Court on Monday that he was not told to deal with Mr Lynn's loans “in a particular way”.
Mr Lynn (55), of Millbrook Court, Redcross, Co Wicklow, is on trial accused of the theft of around €27 million from seven financial institutions. He has pleaded not guilty to 21 counts of theft in Dublin between October 23rd, 2006, and April 20th, 2007.
It is the prosecution’s case that Mr Lynn obtained multiple mortgages on the same properties, in a situation where banks were unaware that other institutions were also providing finance.
The financial institutions involved are Bank of Ireland, National Irish Bank (later known as Danske Bank), Irish Life and Permanent, Ulster Bank, ACC Bank, Bank of Scotland Ireland and Irish Nationwide Building Society.
Under cross-examination from defence counsel Paul Comiskey-O'Keeffe BL on Monday, Mr Mulcahy said he had no recollection of ever seeing Mr Lynn in the company of Mr Fingleton in the bank.
Mark Mulcahy told the trial that he was introduced to Mr Lynn in the early 2000s as “someone to get to know to do business with” and that he dealt with several mortgage applications in relation to Mr Lynn.
Mr Comiskey O'Keeffe put it to Mr Mulcahy that he introduced Mr Lynn to someone in Bank of Scotland “at Mr Fingleton's behest”. Mr Mulcahy rejected this, saying he did not know the name of the person in question.
Mr Comiskey O'Keeffe also put it to Mr Mulcahy that he was “in a position to facilitate undertaking only mortgages”.
“No, I wasn't able to facilitate that,” Mr Mulcahy replied.
Under re-examination from Karl Finnegan SC, prosecuting, Mr Mulcahy agreed that as far as he was aware, a €4.1 million loan taken out by Mr Lynn and his wife Brid Murphy for Glenlion house in Howth was a home loan.
“It's been suggested to you that Mr Fingleton was Mr Lynn's private banker. Were you aware of such a relationship?” Mr Finnegan asked.
“No, I was never aware of such a relationship or that they knew each other,” Mr Mulcahy replied.
Mr Finnegan asked Mr Mulcahy if he was “ever told by Mr Fingleton to deal with Mr Lynn's loans in a particular way”.
“No, they were all dealt with in the normal way I dealt with every other loan,” Mr Mulcahy said.
The trial continues before Judge Martin Nolan and a jury.
