Fees taken from NBI were not reimbursement of costs, says Dept of Communications

Records show Metallah Ltd, a parent company of the two NBI companies established to deliver the broadband project, made a string of payments to a firm controlled by businessman David McCourt

David McCourt: the American businessman has received €38 million in fees from NBI in the 12 months since it was established. Picture: Maura Hickey

Tens of millions of euro in fees extracted from National Broadband Ireland (NBI) by its investors in the first year of the multibillion-euro rural internet scheme were not a reimbursement of the investors’ bid costs, the Department of Communications has claimed.

The Business Post revealed earlier this month how investors including David McCourt, the US businessman fronting the project, had earned €38 million in fees from NBI in the 12 months after its establishment.

Records ...