The decision to prosecute the two men, understood to be prominent Belfast businessman Frank Cushnahan and lawyer Ian Coulter, comes after an investigation by the National Crime Agency into the 2014 sale to US investment fund Cerberus.
The transaction, called Project Eagle, involved the sale of Northern Ireland property loans by Nama.
Nama was set up by the Irish Government in 2009 during the financial crisis to off-load non-performing loans acquired from banks.
Ex-Nama adviser Mr Cushnahan (78) is to be charged with one count of fraud involving a failure to disclose information between April 1st, 2013 and November 7th, 2013.
Mr Cushnahan and Mr Coulter, a former managing partner in the Tughans law firm, are also to be jointly charged with one count of fraud involving a false representation made on or around April 3rd, 2014.
Mr Coulter is also to face four further charges:
- One count of fraud involving a false representation made on or around September 11th, 2014
- One count of fraud involving making an article in connection with a fraud on or about August 13th, 2014
- Two counts of the offence of concealing criminal property involving concealing, disguising or transferring criminal property between September 15th, 2014 and December 1st, 2014
The PPS said there was insufficient evidence to prosecute six other people in relation to the sale.
In November 2018, the PPS announced a decision not to prosecute another individual.
PPS assistant director Ciaran McQuillan said: “A considerable volume of evidence submitted to the PPS has been painstakingly examined by a team of experienced and senior prosecutors, with the benefit of advice from two senior counsel.
“As a result, it has been concluded that there is sufficient evidence for two of those reported to be prosecuted for a number of serious charges.
“Whilst the Test for Prosecution was met in respect of two suspects, it was considered not met on evidential grounds in respect of seven further individuals with regard to the Project Eagle investigation.
“All decisions were taken in full accordance with the PPS Code for Prosecutors and only after a thorough consideration of all issues.”
Both men deny the charges being brought against them.
