NAMA to respond to criminal activity claims at Public Accounts Committee

Thursday 19 December 2013 22.52
A second former employee has been reported to gardaí
A second former employee has been reported to gardaí

The National Asset Management Agency has accepted an invitation from the Dáil's Public Accounts Committee to appear before it tomorrow at 11am.

PAC Chairman John McGuinness had asked NAMA representatives to go before the committee to respond to allegations of criminal activity at the agency.

Yesterday, a NAMA spokesman confirmed it reported a second former employee to gardaí for allegedly sharing information unlawfully.

A separate investigation into a former employee is at an advanced stage, according to gardaí. 

NAMA indicated to the committee this morning that it was anxious to be afforded a public opportunity to address these allegations.

NAMA Chairman Frank Daly and Chief Executive Brendan McDonagh will attend tomorrow's meeting.

A NAMA spokesman said: "We are very grateful to the chairman and to the members of the committee for affording us this opportunity to meet with them at such short notice.

"We consider the PAC to be the most appropriate forum to address these matters".  

Fine Gael TD John Deasy said it is very significant that NAMA should be given an opportunity to respond to the committee immediately, while these allegations are ongoing.

He said a lot of people would like to see NAMA damaged and the executives need to be given the opportunity to come in.

Mr Deasy said there was an issue in the papers today with regard to undervaluing loans.

He asked the Comptroller and Auditor General if he had looked at this issue and if he found anything.

The C&AG said it is difficult to see how across the portfolio that there would have been underpayment.

He said the whole valuation process was assessed by the European Commission and it is difficult to see how there could have been any undervaluing.