Nama's deal in the North and secret £7m bank account

Wallace drops a bombshell, but what actually happened and who has questions to answer?

5th July, 2015
The offices of Tughans in Belfast, the legal firm at the centre of allegations made by Mick Wallace under Dáil privilege last week. Picture: Collins/Pacemaker

Last Thursday, when most of the Leinster House press corps were busy watching Brian Cowen at the banking inquiry, Mick Wallace dropped his bombshell.

Wallace rose to talk about the sale of Nama’s loan book to Cerberus, as US private equity player. “There is growing concern regarding the workings of Nama and whether the taxpayer has been well served by it,” he said.

Wallace, an independent TD for Wexford, outlined allegations...

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