The Fianna Fáil TD, Beverley Cooper-Flynn, has said that she felt she was the talk of County Mayo and Leinster House after RTÉ broadcast allegations that she had encouraged people to evade tax. Even the Taoiseach asked her about it, she said on the third day of her libel action against RTÉ in the High Court. She also said that she would not accept that the offshore investment policies she sold while she worked with National Irish Bank had proved to be a disaster for customers.
Beverly Cooper-Flynn earned an average of £50,000 a year in salary and bonuses while she worked with National Irish Bank. Her top performance was £69,000 and in 1994 she received a trip to Australia from CMI. This company's offshore investment policies were among a number of schemes she promoted. However, she denied ever selling a CMI Personal Portfolio to James Howard, the retired farmer who claims she encouraged him to evade tax. She says that she never met him. She also said she has no memory of meeting his daughter Marina.
After RTÉ's allegations in 1998 Beverly Cooper-Flynn said that she was certain that after her statement of denial RTÉ would retract their story. To her amazement that did not happen. It was the talk of County Mayo and the Dáil, she said in court today. Even the Taoiseach took her aside. Ms Cooper-Flynn felt that the matter was being mentioned to her in a questioning way and that there was an element of doubt in the Taoiseach's mind.
In cross examination by Kevin Feeney SC for RTÉ quoted from the 1999 Annual Report of the Controller and Auditor General which revealed that following media revelations, the Revenue had reached settlements totalling over £12m with 232 individuals who had invested in an NIB operated offshore investment scheme.
“Offshore investment schemes should by you appear to have proved a disaster for the customer,” he said.
“I would not accept that,” Ms Cooper-Flynn replied. She could not confirm if any of her customers were among the group that settled with Revenue.
