Nama Fraud Trial: Coulter and Cushnahan Deny Charges
Two businessmen, Ian George Coulter and Frank Hugh Cushnahan, are currently on trial for fraud charges related to the sale of Nama's Northern Ireland property loan book. Both men have denied all charges.
Cushnahan, an external member of Nama's Northern Ireland Advisory Committee, faced two charges from April 1, 2013, to November 7, 2013. He was accused of failing to disclose his involvement with Pimco, a potential purchaser of Nama's loan book, despite multiple opportunities to do so. He resigned from his position in November 2013, citing family priorities and age, but did not reveal his Pimco connection.
The deal with Pimco fell through in March 2014 when Nama discovered Cushnahan's involvement. Coulter, on the other hand, is charged with five offenses from April 3, 2014, to December 1, 2014. It was alleged that the then Northern Ireland First Minister, Peter Robinson, did not receive any money from the Nama deal, with 'not a shred of evidence' to suggest otherwise.
The trial continues with both men denying the charges against them. The outcome of the case will have significant implications for the transparency and accountability of such high-profile transactions.
