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Calls for probe into NI public funds trading

The British government today faced demands to call in the police to probe a financial scandal in Northern Ireland involving public funds and claims of insider trading.

The accusation was made by MPs in a Public Accounts Committee report into conflicts of interest surrounding a husband and wife team of accountants, Teresa and Michael Townsley, who administered a fund for emerging small businesses.

The damning report said all seven principles of standards in public life were breached in the case.