There is "not a shred of evidence" that the then Northern Ireland First Minister Peter Robinson received any money from the NAMA deal, a court heard today.
British Crown prosecutor Jonathan Kinnear KC spent the third day on his feet opening the prosecution's case against two businessmen currently on trial on charges of fraud.
Ian George Coulter, 54, from Templepatrick Road in Ballyclare has been charged with five offences while co-accused Frank Hugh Cushnahan, 83, of Alexandra Gate in Holywood faces two charges.
Both men have denied all the charges, which relate to the sale of the Northern Ireland property loan book held by the National Assets Management Agency (NAMA), which was set up in the Republic following the property crash and banking crisis in 2009.
Mr Cushnahan was appointed as an external member of the Northern Ireland Advisory Committee set up by NAMA to advise in respect of the property debts in Northern Ireland.
In this role, it's the Crown's case that he was under a legal duty to disclose any conflict of interests that he had - which Mr Kinnear said he failed to do.
During today's hearing, the jury was presented with information regarding a meeting between Mr Cushnahan and a property developer, which the latter secretly recorded.
The meeting took place on 4 November 2013 and Mr Kinnear told the jurors that in due course, they will hear the audio of the covert recording of the meeting.
The prosecutor said that in November 2013 Mr Cushnahan was "heavily involved" with US investment firm Pimco, who were potential purchasers of the Northern Ireland loanbook.
Mr Kinnear said that topics discussed between Mr Cushnahan and the property developer illustrated this involvement.
This, the jury heard, included Mr Cushnahan talking about how he "brought Pimco" to meet the then finance minister Sammy Wilson and the substantial sum of around £2m that he believed he was to receive as a success fee.
Telling the jury Mr Cushnahan whispered part of this conversation, which Mr Kinnear said was "so secretive he was not going to speak at full volume", the prosecutor revealed at one point Mr Cushnahan mentioned "Robson" and "a bit of money" - who the Crown said is Peter Robinson.
Mr Kinnear then stated "there is not a shred of evidence Mr Robinson or anyone else received money from this deal."
The prosecutor also spoke of a number of opportunities where Mr Cushnahan could have declared his involvement with Pimco.
Instead, the Crown say, he failed to do this as he did not want to scupper the "huge fee" he was in line to receive if the deal with Pimco went through.
Mr Kinnear said this would have been akin to "losing a lottery ticket."
