The Moriarty Tribunal resumed today with an examination of Charles Haughey's personal bill paying accounts, which involved a sum of £3.4m over an 11-year period. The tribunal is also examining the relationship between Dermot Desmond and the Haughey family. Two new payments from Mr Desmond to Charles Haughey have been uncovered.
Unravelling Charles Haughey's personal bills took the Tribunal on another elaborate money trail, which, as always, took the transatlantic path to the Cayman Islands and Ansbacher Cayman Ltd. Over 11 years, Mr. Haughey's bills came to over £3.4m. A company called BEL paid them in the early 90's. Their books turned up a payment from a client account in one of the country's biggest stock-broking firms, NCB.
Tribunal lawyer, John Coughlan, said that they are looking at whether this account was run essentially for Charles Haughey's benefit. Des Traynor gave instructions in relation to this account, Dermot Desmond was his contact in NCB. The Tribunal have tried to establish, with the help of John Kielthy of NCB, how money came into the account. So far, they have traced it back to a bank account in the name of NCB themselves, but no more. Investigations are continuing in this regard.
When this account was closed the balance from it, over £160,000, ended up in Ansbacher Cayman and it seems that it then made its way back to Mr Haughey's bill paying account. The relationship between the Haugheys and Dermot Desmond is also being examined. The tribunal heard that Des Traynor approached Mr Desmond in 1987. He asked him if he would get involved in a syndicate of around 5 or 6 people to, as Mr Traynor put it, "help with our friend’s borrowings."
Dermot Desmond took this to mean Charles Haughey, but he declined to get involved. However, it has been established that he gave him over £125,000 in two payments in 1994 and 1996. Mr Desmond said that these payments were of a "private nature." Dermot Desmond also paid for the refurbishment of Conor Haughey's yacht at a cost of over £75,000. Mr Desmond said that this was a loan, although almost nine years later it does not appear that this loan was repaid.
