The Oireachtas finance committee is to ask the Central Bank to supply it with documents relating to the case of Jonathan Sugarman, a banker who warned of liquidity breaches at his bank, UniCredit Bank Ireland, in 2007.
Mr Sugarman, who was risk manager in UniCredit, has claimed that prompt action in 2007 might have avoided the need for a blanket guarantee and bailout of the Irish banks.
Appearing before the committee today, Mr Sugarman, repeated his previous claims that his warnings to superiors and the Central Bank about the UniCredit’s breaches of liquidity requirements in 2007 went unheeded.
He subsequently resigned his position in September 2007 and said he has been unable to find employment ever since.
He told the committee within two months of working with the lender he noticed irregularities that needed investigating.
He said it became a daily occurrence to meet with the CEO to discuss risk issues.
Jonathan Sugarman tells Oireachtas committee prompt action in 2007 might have avoided need for blanket guarantee and bailout of Irish banks pic.twitter.com/EgSO4Txt7Q— RTÉ News (@rtenews) April 13, 2017
Mr Sugarman said he was told the irregularities he noticed were glitches in the IT system and that there was no need to worry.
The former risk manager added that a liquidity breach of 1% should have set alarm bells ringing, but UniCredit only obliged the law and notified the regulator when the breach was 20%.
Mr Sugarman said he notified gardaí of the breaches and was later told the garda fraud squad was dealing with the case.
He said that was the last he heard about it from gardaí, and this was in 2009.
He said his life has been "utterly destroyed because I did the right thing, but the people who did nothing got off absolutely scot-free.
"I have been unable to work for ten years and have been unemployable for upholding the law of Irish Republic."